Required: 1. Does the company have any assets that are not depreciated? If so, what are they? 2. What type of property has the highest depreciation rate? 3. Focus on Locomotives, which are one of Norfolk's major assets used in operations. Based on the stated depreciation rate, back into the implied service life of the company's locomotives. Complete this question by entering your answers in the tabs below. Does the company have any assets that are not depreciated? If so, what are they? Most of our assets are long-lived railway properties (Note 7). "Properties" are stated principally at cost and are depreciated using the group method whereby assets with similar characteristics, use, and expected lives are grouped together in asset classes and depreciated using a composite depreciation rate. See Note 1 for a more detailed discussion of the assumptions and estimates in this area. Expenditures, including those on leased assets, that extend an asset's useful life or increase its utility are capitalized. Expenditures capitalized include those that are directly related to a capital project and may include materials, labor, and other direct costs, in addition to an allocable portion of indirect costs that relate to a capital project. A significant portion of our annual capital spending relates to the replacement of self-contructed assets. Costs related to repairs and maintenance activities that, in our judgment, do not extend an asset's useful life or increase its utility are expensed when such repairs are performed. Depreciation expense for 2019 totaled \$1.1 billion. Our composite depreciation rates for 2019 are disclosed in Note 7; a one year increase (or decrease) in the estimated average useful lives of depreciable assets would have resulted in an approximate $40 million decrease (or increase) to depreciation expense. Required: 1. Does the company have any assets that are not depreciated? If so, what are they? 2. What type of property has the highest depreciation rate? 3. Focus on Locomotives, which are one of Norfolk's major assets used in operations. Based on the stated depreciation rate, back into the implied service life of the company's locomotives. Complete this question by entering your answers in the tabs below. Focus on Locomotives, which are one of Norfolk's major assets used in operations. Based on the stated depreciation rate, back into the implied service life of the company's locomotives. Note: Round your final answer to one decimal place. 1. Does the company have any assets that are not depreciated? If so, what are they? 2. What type of property has the highest depreciation rate? 3. Focus on Locomotives, which are one of Norfolk's major assets used in operations. Based on the stated depreciation rate, back into the implied service life of the company's locomotives. Complete this question by entering your answers in the tabs below. What type of property has the highest depreciation rate? Required: 1. Does the company have any assets that are not depreciated? If so, what are they? 2. What type of property has the highest depreciation rate? 3. Focus on Locomotives, which are one of Norfolk's major assets used in operations. Based on the stated depreciation rate, back into the implied service life of the company's locomotives. Complete this question by entering your answers in the tabs below. Does the company have any assets that are not depreciated? If so, what are they? Most of our assets are long-lived railway properties (Note 7). "Properties" are stated principally at cost and are depreciated using the group method whereby assets with similar characteristics, use, and expected lives are grouped together in asset classes and depreciated using a composite depreciation rate. See Note 1 for a more detailed discussion of the assumptions and estimates in this area. Expenditures, including those on leased assets, that extend an asset's useful life or increase its utility are capitalized. Expenditures capitalized include those that are directly related to a capital project and may include materials, labor, and other direct costs, in addition to an allocable portion of indirect costs that relate to a capital project. A significant portion of our annual capital spending relates to the replacement of self-contructed assets. Costs related to repairs and maintenance activities that, in our judgment, do not extend an asset's useful life or increase its utility are expensed when such repairs are performed. Depreciation expense for 2019 totaled \$1.1 billion. Our composite depreciation rates for 2019 are disclosed in Note 7; a one year increase (or decrease) in the estimated average useful lives of depreciable assets would have resulted in an approximate $40 million decrease (or increase) to depreciation expense. Required: 1. Does the company have any assets that are not depreciated? If so, what are they? 2. What type of property has the highest depreciation rate? 3. Focus on Locomotives, which are one of Norfolk's major assets used in operations. Based on the stated depreciation rate, back into the implied service life of the company's locomotives. Complete this question by entering your answers in the tabs below. Focus on Locomotives, which are one of Norfolk's major assets used in operations. Based on the stated depreciation rate, back into the implied service life of the company's locomotives. Note: Round your final answer to one decimal place. 1. Does the company have any assets that are not depreciated? If so, what are they? 2. What type of property has the highest depreciation rate? 3. Focus on Locomotives, which are one of Norfolk's major assets used in operations. Based on the stated depreciation rate, back into the implied service life of the company's locomotives. Complete this question by entering your answers in the tabs below. What type of property has the highest depreciation rate