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The 2013 financial statements for Leggett & Platt, Inc. report the following information: Year ended December 31, 2013 2012 (In millions) Depreciation and amortization expense

The 2013 financial statements for Leggett & Platt, Inc. report the following information:

Year ended December 31,

2013

2012

(In millions)

Depreciation and amortization expense

$ 90.1

$ 90.4

Property and equipment, net

574.6

572.8

Land

44.5

45.3

Accumulated depreciation and amortization

1,266.6

1,237.4

a. By what percentage are the assets used up at the year-end 2013? What implication does this ratio have for future cash flows at Leggett & Platt?

b. Estimate the useful life on average for the Leggett & Platt depreciable assets.

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