Martinez Corporation, a manufacturer of steel products, began operations on October 1, 2016. The accounting department of Martinez has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel 1. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition 2. Land A and Building A were acquired from a predecessor corporation. Martinez paid $844,000 for the land and building together. At the time of acquisition, the land had an appraised value of $86,100, and the building had an appraised value of $774,900 3. Land B was acquired on October 2, 2016, in exchange for 2,600 newly issued shares of Martinez's common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $28 per share. During October 2016, Martinez paid $15,300 to demolish an existing building on this land so it could construct a new 4. Construction of Building B on the newly acquired land began on October 1, 2017. By September 30, 2018, Martinez had paid $307,000 of the estimated total 5. Certain equipment was donated to the corporation by a local university. An independent appraisal of the equipment when donated placed the fair value at $38,900 and 6. Machinery A's total cost of $181,800 includes installation expense of $540 and normal repairs and maintenance of $14,400. Salvage value is estimated at $6,500 7. On October 1, 2017, Machinery B was acquired with a down payment of $5,280 and the remaining payments to be made in 11 annual installments of $5,540 each building construction costs of $428,900. It is estimated that the building will be completed and occupied by July 2019 the salvage value at $2,700 Machinery A was sold on February 1, 2018 beginning October 1, 2017, The prevailing interest rate was 8%. The following data were abstracted from present value tables (rounded) Present value of an ordinary annuity of $1.00 at 896 Present value of $1.00 at 8% 10 years 0.463 11 years 0.429 15 years 0.315 10 years 11 years 15 years 6.710 7.139 8.559 Complete the schedule below. (Round answers to O decimal places, e.g. 45,892.) Complete the schedule below. (Round answers to 0 decimal places, e.g. 45,892.) MARTINEZ CORPORATION Fixed-Asset and Depreciation Schedule For Fiscal Years Ended September 30, 2017, and September 30, 2018 Depreciation Expense Year Ended September 30 Estimated Life in Years Assets Acquisition Date Cost Salvage Depreciation Method 2017 2018 84,400 Land A Building A Land B (1) (2) (5) N/A October 1, 2016 October 1, 2016 October 2, 2016 Under Construction N/A N/A N/A N/A 759,600 $43,400 14,616 49 Straight-line N/A Straight-line 150% declining-balance $14,616 88,100 N/A N/A N/A N/A $307,000 to date BuildingB 30 5,616(9) 4,774 Donated Equipment October 2, 2016(7) October 2, 2016 (10) October 1, 2017(13) 2,700 10 167,400 600 Machinery A 6,500 Sum-of-the-years'-digits 8 (12) Machinery B 47,993 Straight-line (14) 2,400 20