At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset 185,00e 2,808,600 1,625,000 182,000 236,000 and Amortizati 338,980 327,500 110,325 118,888 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 35,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of s60 a share Current assessed values of land and building for property tax purposes are $255,000 and $595.000, respecively b. On March 25. 2018, new parking lots, streets, and sidewalks at the acguired 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 $252,000. These expenditures had an estimated useful life of 12 years exercised the renewal option