At January 1, 2025, Sunland Company reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings $63,750,000 Accumulated depreciation-equipment 52,750,000 Buildings 97,400,000 Equipment Land 150,450,000 20,650,000 The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. During 2025, the following selected transactions occurred: Apr. 1 May 1 June 1 July 1 Dec. 31 Purchased land for $4.30 million. Paid $1.075 million cash and issued a 3-year, 6% note payable for the bala Interest on the note is payable annually each April 1. Sold equipment for $290,000 cash. The equipment cost $3.72 million when originally purchased on Januar Sold land for $5.88 million. Received $660,000 cash and accepted a 3-year, 5% note for the balance. The lar $1.70 million when purchased on June 1, 2019. Interest on the note is due annually each June 1. Purchased equipment for $2.20 million cash. Retired equipment that cost $1 million when purchased on December 31, 2015. No proceeds were receive