t December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Accumulated Depreciation and Amortization Category Land Buildings Machinery and equipment Automobiles and trucks Leasehold improvements Land improvements Plant Asset 181,000 1,800,000 1,425,000 178,000 228,000 334,900 23,500 106,325 114,000 Depreciation methods and useful lives: Buildings-150% declining balance; 25 years. Automobiles and trucks-150% declining balance; 5 years, all acquired after 2014. Land improvements-Straight line. Machinery and equipment-Straight line; 10 years Leasehold improvements-Straight line Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2 a. On January 6, 2018, a plant facility consisting of land and building was accuired from King Corp.in exchange for 3too0 shdinestor a fair value of $50 a share. Current assessed values of land and building for Cord's common stock. On this date, Cord's stock had property tax purposes are $202,500 and $607,500, respectively $228,000. These expenditures had an estimated useful life of 12 years. lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord b. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of exercised the renewal option. July 1, 2018, machinery and equipment were purchased at a total invoice cost of $331,000 Additional costs of $10,000 for delivery and $56,000 for installation were incurred. e. On August 30, 2018, Cord purchased a new automobile for $13,100 September 30, 2018, a truck with a cost of $24,600 and a book value of $10,200 on date of sale was sold for $12,100 Depreciation for the nine months ended September 30, 2018, was $2,295 cash recovery 9. On December 20, 2018, a machine with a cost of $20,000 and a book value of $3,125 at date of disposition was scrapped without