Check my work 3 At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation and Amortization Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset 2 points $ 176,000 1,550, 000 1,175, 000 173,000 218,000 329,900 318,500 101,325 109,000 Skipped eBook 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 Print References 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 26,000 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 propertytax purposes are $228,000 and $532,000, respectively b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $198,000