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Assignment help 7100

A recent annual report for reported that the (gross) balance of property, plant, and equipment

at the end of the current year was $16,774 million. At the end of the previous year it was $15,667

million. During the current year, the company bought $2,118 million worth of new equipment. The

balance of accumulated depreciation at the end of the current year was $8,146 million and at the end

of the previous year was $7,654 million. Depreciation expense for the current year was $1,181

million. The annual report does not disclose any gain or loss on the disposition of property, plant,

and equipment, so you may assume the amount was zero.

Required:

What was the of the assets disposed?

What amount of did receive when it sold property, plant, and equipment?

Assume uses straight-line depreciation and that depreciation expense is calculated based

on the balance of property, plant and equipment at the of the year. What is your

estimate of the for depreciable assets at the beginning of the year?

Explain.

Given your answer to part above, what is your estimate of the of ‘s

depreciable assets at the of the year? Explain.

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