On March $31,2024,$ the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $$1,060,000$ to the various types of assets along with estimated useful lives and residual values are as follows:

$\backslash$table$[[$Asset$,$Cost,$\backslash$table$[[$Estimated$],[$Residual Value$]],\backslash$table$[[$Estimated$],[$Useful Life $($in$],[$years$)]]],[$Land$,$$$130,000,\frac{N}{A},\frac{N}{A}$