The 2016 financial statements for leggett & platt, inc., report the following information: year ended december 31, 2016 2015 (in millions) depreciation expense $ 86.8 $ 83.5 property and equipment, net 565.5 540.8 land 37.7 40.0 accumulated depreciation 1,165.4 1,146.5 which of the following estimates the property and equipment's percent-used-up at december 31, 2016?

68.82%

Explanation:

The computation is shown below:

= (Accumulated depreciation) ÷ (Property and equipment, net + accumulated depreciation - land)

= ($1,165.40) ÷ ($565.5 + $1,165.40 - $37.7)

= ($1,165.40) ÷ ($1,693.20)

= 68.82%

We simply find out the percentage between the accumulated depreciation and the property + accumulated depreciation - land

We deduct the land as land is not depreciated

answer; /// the above statement is (true); good luck

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