PROPERTY AND EQUIPMENT, NET

12 Months Ended

Feb. 28, 2022

6. PROPERTY AND EQUIPMENT, NET

Property and equipment, net, consisted of the following:


	As of		As of
	February 28,		February 28,
	2021		2022

Building	$	64,246	$	65,922
Leasehold improvement		446,203		115,760
Computer, network equipment and software		260,265		173,685
Vehicles		877		899
Office equipment and furniture		34,571		19,071
Construction in progress		59,492		151,437

Total cost of property and equipment		865,654		526,774
Less: accumulated depreciation		(354,239)		(215,589)
Less: accumulated impairment loss		—		(29,959)
	$	511,415	$	281,226

For the years ended February 29, 2020, February 28, 2021 and 2022, depreciation expenses were $99,511, $136,960 and $171,354, respectively. During the fiscal year ended February 28, 2022, $255,959 impairment loss was recorded for certain property and equipment and the leasehold improvements of certain learning centers and offices. Accumulated impairment amounting to $226,000 was written off along with underlying property and equipment and leasehold improvement which were disposed or fully impaired in fiscal year 2022, resulting from the cessation of K9 Academic AST Services in the mainland of China.

In December 2019, the Group entered into contracts for the development of office space on parcels in Beijing and Jiangsu. The direct costs related to the construction were capitalized as construction in progress for the years ended February 29, 2020, February 28, 2021 and 2022.