At December 31, 2017, Grand Company reported the following as plant assets.

At December 31, 2017, Grand Company reported the following as plant assets Land Buildings Less: Accumulated depreciation-buildings 12,870,000 15,530,000 Equipment Less: Accumulated depreciation-equipment5,360,00042,550,000 4,100,000 $28,400,000 47,910,000 Total plant assets $62,180,000 During 2018, the following selected cash transactions occurred. 1 Purchased land for $2.4003090,000when urchland cost $405,000. April 1 May 1 June 1 July 1 Dec. 31 Purchased land for $2,100,000. Sold equipment that cost $1,080,000 when purchased on January 1, 2014. The equipment was sold for $648,000. Sold land purchased on June 1, 2008 for $1,530,000. The land cost $408,000. Purchased equipment for $2,370,000 Retired equipment that cost $485,000 when purchased on December 31, 2008. The company received no proceeds related to salvage