Estimating Useful Life, Percent Used Up, and Gain or Loss on Disposal Husky Energy is one of Canadas largest integrated energy companies. Based in Calgary, Alberta, Husky is publicly traded on the Toronto Stock Exchange. The Company operates in Western and Atlantic Canada, the United States and the Asia Pacific Region with upstream and downstream business segments. The company uses IFRS to prepare its financial statements. During 2018, the company reported depreciation expense of $2,591 million. The property and equipment footnote follows.

a. Compute the average useful life of Husky Energys depreciable assets in 2018. Assume that land is 10% of Refining. Note: Round your answer to one decimal place (for example, enter 6.8 for 6.77555). Answer years ??? b. Estimate the percent used up of Husky Energys depreciable assets in 2018. Note: Round percentage to one decimal place (for example, enter 6.7% for 6.6555%). Answer% ???? c. Consider the disposals and derecognition during the year. This refers to assets that were sold and removed from the balance sheet during 2018. Calculate the net book value of the total PPE disposed during the year. Assume that Husky Energy received $5 million cash proceeds for the year. Determine the gain or loss on the disposal.

$XX.XX (gain, loss, or no gain/loss)????? Note: Do not use any negative signs with your answers

Oil and Gas Properties Processing, Transportation and Storage Retail and Upgrading Refining Other Property, Plant and Equipment (in C$ millions) Total Cost $54,360 $112 $3,379 $11,948 $3,809 Dec. 31, 2017 Additions $73,608 3,434 2,465 12 62 744 151 64 3 67 79 79 (5) 5 43 2 (2) 7 45 (5) (10) (632) (1) (643) 1,139 362 1 = 773 3 $56,741 $127 $3,439 $13,448 $3,974 $77,729 Acquisitions Transfers from exploration and evaluation Intersegment transfers Changes in asset retirement obligations Disposals and derecognition Exchange adjustments Dec. 31, 2018 Accumulated depletion, depreciation, amortization, and impairment Dec 31, 2017 Depletion, depreciation, amortization, and impairment Disposals and derecognition Exchange adjustments Dec. 31, 2018 Net book value Dec. 31, 2017 Dec 31, 2018 $(47) $(26,016) (1,811) 586 (2) $(1,462) $(3,176) $(1,842) $(32,543) (123) (503) (152) (2,591) 10 596 (138) (1) $(50) = (264) (1) (404) $(1,585) $(3,933) $(1,995) $(34,942) $(27,379) $65 $1,917 $1,967 $28,344 29,362 $8,772 9,515 $41,065 42,787 77 1,854 1,979 Oil and Gas Properties Processing, Transportation and Storage Retail and Upgrading Refining Other Property, Plant and Equipment (in C$ millions) Total Cost $54,360 $112 $3,379 $11,948 $3,809 Dec. 31, 2017 Additions $73,608 3,434 2,465 12 62 744 151 64 3 67 79 79 (5) 5 43 2 (2) 7 45 (5) (10) (632) (1) (643) 1,139 362 1 = 773 3 $56,741 $127 $3,439 $13,448 $3,974 $77,729 Acquisitions Transfers from exploration and evaluation Intersegment transfers Changes in asset retirement obligations Disposals and derecognition Exchange adjustments Dec. 31, 2018 Accumulated depletion, depreciation, amortization, and impairment Dec 31, 2017 Depletion, depreciation, amortization, and impairment Disposals and derecognition Exchange adjustments Dec. 31, 2018 Net book value Dec. 31, 2017 Dec 31, 2018 $(47) $(26,016) (1,811) 586 (2) $(1,462) $(3,176) $(1,842) $(32,543) (123) (503) (152) (2,591) 10 596 (138) (1) $(50) = (264) (1) (404) $(1,585) $(3,933) $(1,995) $(34,942) $(27,379) $65 $1,917 $1,967 $28,344 29,362 $8,772 9,515 $41,065 42,787 77 1,854 1,979