($ in millions) January 28, 2006 January 29, 2005 $ $ Furniture and equipment Land and buildings Software 2,532 3,750 676 2,847 3,674 648 Property and equipment, gross Less: Accumulated depreciation and amortization Property and equipment, net 6,958 (3,712) 3,246 7,169 (3,793) 3,376 $ $ Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives are as follows: 1. Suppose the total purchase of property and equipment was $600 million during fiscal year 2005. What was the original cost of the property and equipment sold by GAP during fiscal year 2005 (in millions)? a. $811 b. $27 c. $727 d. $730 2. Suppose the depreciation expense was $625 million for fiscal year 2005. What was the amount of the accumulated depreciation associated with property and equipment sold during fiscal year 2005 (in millions)? a. $81 b. $706 c. $625 d. $709 3. Suppose the total proceeds from the sale of property and equipment was $27 million for fiscal year 2005. What was the gain or loss associated with the sale of property and equipment during fiscal year 2005? a. $0 b. $78 gain c. $781 loss d. $78 loss