What was the gross book value of GMs Property at the end of 2021?

2. What method(s) does GM use to depreciate its property? Does this make sense given the nature of its assets?

3. Assuming zero salvage value for any of GMs property, calculate your best estimate for the average age of GMs property? (Show your formula and calculations for full credit)

4. What was the book value of property divested by GM during 2021? (Show your formulas and/or T-accounts and calculations for full credit).

In addition to cash property purchases, GM acquired 4,305 million in property through non-cash transactions during 2021.

GENERAL MOTORS COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions, except per share amounts) GENERAL MOTORS COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Note 9. Property The amount of capitalized software included in Property, net was $1.4 billion and $1.3 billion at December 31,2021 and 2020 . The amount of interest capitalized and excluded from Automotive interest expense related to Property, net was insignificant in the years ended December 31,2021,2020 and 2019. Property, net Property, plant and equipment, including internal use software, is recorded at cost. Major improvements that extend the useful life or add functionality are capitalized. The gross amount of assets under finance leases is included in property, plant and equipment. Expenditures for repairs and maintenance are charged to expense as incurred. We depreciate depreciable property using the straight-line method. Leasehold improvements are amortized over the period of lease or the life of the asset, whichever is shorter. The amortization of the assets under finance leases is included in depreciation expense. Upon retirement or disposition of property, plant and equipment, the cost and related accumulated depreciation are eliminated and any resulting gain or loss is recorded in earnings. Impairment charges related to property are recorded in Automotive and other cost of sales, Automotive and other selling, general and administrative expense or GM Financial interest, operating and other expenses