LightWave communications, INC. spent $100 million expanding its fiber optic communication network between Chicago and Los Angeles during 2004. The fiber optic network was assumed to have a 10-year life, with a $20 million salvage value, when it was put into service on January 1, 2005. The network is depreciated using the straight-line method. At the end of 2006, the expected trafffic volume on the fiber optic network was only 60% of what was originally expected. The reduced traffic volume caused the fair market value of the asset to be estimated at $45 million on December 31, 2006. The loss is not expected to be recovered.

Question:
Provide the balance sheet disclosure for fixed assets on December 31, 2006.