Dynamic Resources reported the following information for year ending June $30,2016($values in millions$)$:

The company also reported the following transactions on the first day of fiscal $2017$:

Sale of asset with gross PP&E of $$700$ million for $$500$ million and useful life of $7$ years and no salvage value. Recorded a gain on sale of $$400$

million.

Write off of asset with gross PP&E of $$600$ million. Asset was purchased $3$ years ago with original useful life of $4$ years and salvage value of $$300$

million.

Purchase of new equipment for $$1,600$ million with useful life of $8$ years and no salvage value $($purchased on the first day of fiscal $2017).$

Assuming the remaining useful life of other equipment is $9$ years on a straight$-$line basis, what is the net PP&E as of June $30,2017($rounded to nearest

thousand$)?$

$$4,013\mathrm{.}9$ million

$$4,088\mathrm{.}9$ million

$$4,355\mathrm{.}6$ million

$$4,555\mathrm{.}6$ million

$$4,725\mathrm{.}0$ million