At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follow Accumulated Depreciation Plant Assetand Amortization tegory Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements $166,0e0 1,850,6ee 675,800 163,000 198,800 319,900 308,500 91,325 99,000 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. ed 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 16,000 shares of Cord's common stock. On this date. Cord's stock had a fair value of $60 a share. Current assessed values of land and building for b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $138,000 c. The leasehold improvements were completed on December 31. 2014, and had an estimated useful life of eight years. The related property tax purposes are $198,000 and $462,000, respectively 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 exercised the renewal option. d. On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $316,000. Additional costs of $11,000 for