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Please answer the 2 useful life questions in the attachment Deere 3 Co. [DE] Eli-35. Estimating Useful Life and Percent Used Up {[03} The property

Please answer the 2 useful life questions in the attachment

image text in transcribed Deere 3 Co. [DE] Eli-35. Estimating Useful Life and Percent Used Up {[03} The property and equipment footnote from the Deere & Company balance sheet follows. Property and Depreciation A surrmery of property and equipment at October 31 follows: Land ................................. $ 13? $ 11? Buildings and building equipment .......... 23 2,584 2,430 Machinery and equipment ................ 11 4393 4,254 Dies, patterns, toois, etc .................. 3 1,330 1,213 All other .............................. 6 E19 "1'31 Construction in progress ................. 938 649 Total at ooet ......................... 10,201 9,394 Lees accumulated depreciation ............ 5,250 5.10? Total ............................... $4,951 $4,287 ' Weighted averages Total property and quipment additions in 2012. 2011 and 2010 were $1,376 million, $1,059 million and $302 million and depreciation was $555 million. $516 million and $540 million, respectively. {1. Compute the estimated useful life of Deere's depreciahle assets at greatend 2012. (Him: Exclude land and construction in progress.) How does this estimate woman: with the useful ves reported in Deere's footnote disclosure? .5. Estimate the percent used up of Deere's depreciable assets at yearend 2012. HOW do you interpret this gure

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