Check my work At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: 170,000 1,250,000 875,000 167,000 206,000 323,900 312,500 95,325 103,000 Land Depreciation methods and useful lives: Buildin Machinery and equipment-Straight line; 10 years Automobiles and trucks-150% declining balance; 5 years, all acquired after 2014. 150% declining balance, 25 years. nts-Straight aight line. Land im Depreciation is computed to the nearest month and residual velues 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 20,000 shares of Cord's common stock, On this date, Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $175,000 and $525,000, respective b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $162,000 These expenditures had an estimated useful life of 12 years. Prey 7 of 9l Next>