(Questions 1-4) The following information is from Emerson's 2022 annual report (all amounts are in millions):...

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(Questions 1-4) The following information is from Emerson's 2022 annual report (all amounts are in millions): Property, Plant and Equipment The Company records investments in land, buildings, and machinery and equipment at cost. Depreciation is computed principally using the straight-line method over estimated service lives, which for principal assets are 30 to 40 years for buildings and 8 to 12 years for machinery and equipment. Long-lived tangible assets are reviewed for impairment whenever events or changes in business circumstances indicate the carrying value of the assets may not be recoverable. Impairment losses are recognized based on estimated fair values if the sum of estimated future undiscounted cash flows of the related assets is less than the carrying values. The components of property, plant and equipment as of September 30 follow: Land Buildings Machinery and equipment Construction in progress Property, plant and equipment, at cost Less: Accumulated depreciation 2021 2022 $359 317 2,493 2,364 6,097 5,678 478 459 9,427 8,818 5,689 5,457 Property, plant and equipment, net $3,738 3,361 Depreciation expense in 2022 related to the above assets was $485. Capital expenditures, PP&E acquisitions, less any asset impairments totaled $825, and gains on the disposal of PP&E totaled $15. 1. (3 points) 2. (3 points) Approximately, what is the average useful life of Emerson's PP&E (exclude land, assume zero salvage value and straight-line depreciation)? Approximately, what is the average age of Emerson's PP&E (exclude land, assume zero salvage value and straight-line depreciation)? (Questions 1-4) The following information is from Emerson's 2022 annual report (all amounts are in millions): Property, Plant and Equipment The Company records investments in land, buildings, and machinery and equipment at cost. Depreciation is computed principally using the straight-line method over estimated service lives, which for principal assets are 30 to 40 years for buildings and 8 to 12 years for machinery and equipment. Long-lived tangible assets are reviewed for impairment whenever events or changes in business circumstances indicate the carrying value of the assets may not be recoverable. Impairment losses are recognized based on estimated fair values if the sum of estimated future undiscounted cash flows of the related assets is less than the carrying values. The components of property, plant and equipment as of September 30 follow: Land Buildings Machinery and equipment Construction in progress Property, plant and equipment, at cost Less: Accumulated depreciation 2021 2022 $359 317 2,493 2,364 6,097 5,678 478 459 9,427 8,818 5,689 5,457 Property, plant and equipment, net $3,738 3,361 Depreciation expense in 2022 related to the above assets was $485. Capital expenditures, PP&E acquisitions, less any asset impairments totaled $825, and gains on the disposal of PP&E totaled $15. 1. (3 points) 2. (3 points) Approximately, what is the average useful life of Emerson's PP&E (exclude land, assume zero salvage value and straight-line depreciation)? Approximately, what is the average age of Emerson's PP&E (exclude land, assume zero salvage value and straight-line depreciation)?