Sheffield Corporation, a manufacturer of steel products, began operations on October 1, 2016. The accounting department of Sheffield 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. Sheffield paid $829,600 for the land and building together. At the time of acquisition, the land had an appraised value of $88,400, and the building had an appraised value of $795,600 3. Land B was acquired on October 2, 2016, in exchange for 2,700 newly issued shares of Sheffield's common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $32 per share. During October 2016, Sheffield paid $16,900 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, Sheffield had paid $312,200 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 $41,400 and 6. Machinery A's total cost of $178,900 includes installation expense of $650 and normal repairs and maintenance of $16,400. Salvage value is estimated at $6,200 7. On October 1, 2017, Machinery B was acquired with a down payment of $6,160 and the remaining payments to be made in 11 annual installments of $6,420 each building construction costs of $470,800. It is estimated that the building will be completed and occupied by July 2019 theage 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 890 Present value of $1.00 at 8% 10 years 0.463 11 years 0.429 15 years0.315 10 years 11 years 15 years 6.710 7.139 8.559