Comprehensive Information for Blake Corporation's property, plant, and equipment for 2016 is: Account Balances at January 1,2016 Credit Land Building Accumulated Depreciation Machinery and Equipment Accumulated Depreciation Automotive Equipment Accumulated Depreciation Debit $ 150,000 1,200,000 900,000 $263,100 250,000 84,600 115,000 Depreciation Method and Useful Life Building: 150%declining-balance, 25 years. Machinery and equipment: Straight-line; 10 years Automotive equipment: Sum-of-the -years' digits; 4 years. Leasehold improvements: Straight-line. The residual value of the depreciable assets is immaterial. Depreciation is computed to the nearest month Transactions during 2016 and other information were as follows: a. On January 2, 2016, Blake purchased a new car for $10,000 cash and a trade-in of a 2-year-old car with a cost of $9,000 and a book value of $2,700. The new car has a cash price of $12,000; the market value of the trade- in is not known On April 1, 2016, a machine purchased for $23,000 on April 1, 2011, was destroyed by fire. Blake recovered $15,500 from its insurance company. b