Problem 11-10 Headland Corporation, a manufacturer of steel products, began operations on October 1, 2016. The accounting department of Headland 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. Headland paid $732,100 for the land and building together. At the time of acquisition, the land had an 3. Land B was acquired on October 2, 2016, in exchange for 2,600 newly issued shares of Headland's common stock. At the date of acquisition, the stock had a par value of $5 per 4. Construction of Building B on the newly acquired land began on October 1, 2017. By September 30, 2018, Headland had paid $338,600 of the estimated total construction costs of 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 $39,600 and the salvage 6. Machinery A's total cost of $172,200 includes installation expense of $570 and normal repairs and maintenance of $13,500. Salvage value is estimated at $6,200. Machinery A was 7. On October 1, 2017, Machinery B was acquired with a down payment of $6,110 and the remaining payments to be made in 11 annual installments of $6,370 each beginning appraised value of $83,300, and the building had an appraised value of $749,700 share and a fair value of $27 per share. During October 2016, Headland paid $17,500 to demolish an existing building on this land so it could construct a new building. $413,200. It is estimated that the building will be completed and occupied by July 2019 value at $3,200 sold on February 1, 2018 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 8% Present value of $1.00 at 890 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 0 decimal places, e.g. 45,892.)