Question: The amount $583817 in year 1 is incorrect. Please correct it. Book Value of Fixed Assets The following data (in millions) were adapted from recent

The amount $583817 in year 1 is incorrect. Please correct it.

Book Value of Fixed Assets

The following data (in millions) were adapted from recent annual reports of United Parcel Service, Inc. (UPS). UPS provides delivery and freight services throughout the world.

Year 2Year 1
Vehicles$609,160$353,313
Aircraft578,702456,870
Land91,37479,191
Building and improvements737,084554,336
Equipment785,816779,725
Construction in progress12,1836,092
Less accumulated depreciation(773,633)(645,710)

a. Compute the book value of the fixed assets for years 1 and 2.

Year 2 book value$fill in the blank 1 million
Year 1 book value$fill in the blank 2 million

b. UPS appears to have

expandedreducedexpanded

its operations in year 2 from

salespurchasespurchases

of fixed assets. This is typical of

slowlyrapidlyrapidly

growing companies.

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