At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows Accumulated Depreciation and Amortization Plant Asset Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements $ 183,000 1,900,000 1,525,000 180,000 232,000 336,900 325,500 108,325 116,000 Depreciation methods and useful lives: Buildings. 150% declining balance, 25 years Machinery and equipment-Straight line; 10 years. Automobiles and trucks-150% declining balance; 5 years, all acquired after 2014 Leasehold improvements-Straight line Land improvements-Straight line Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information a. On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 33,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $40 a share. Current assessed values of land and building for property tax purposes are $166,000 and $664,000, respectively $240,000. These expenditures had an estimated useful life of 12 years lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of C. The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related exercised the renewal option d. On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $333,000. Additional costs of $12,000 for delivery and $58,000 for installation were incurred e. On August 30, 2018, Cord purchased a new automobile for $13,300 f. On September 30, 2018, a truck with a cost of $24,800 and a book value of $10,600 on date of sale was sold for $12,300 Depreciation for the nine months ended September 30, 2018, was $2,385 g. On December 20, 2018, a machine with a cost of $21,000 and a book value of $3,175 at date of disposition was scrapped without cash recovery