The plant asset and accumulated depreciation acc ounts of Pell Corporation had the following balances at December 31, 2017: Accumulated Plant Asset Depreciation Land Land improvements Building Machinery and equipment Automobiles 355,000 $ 181,500 1,510,000 1,168,000 151,000 46,000 355,000 410,000 112,500 Transactions during 2018 were as follows: a. On January 2, 2018, machinery and equipment were purchased at a total invoice cost of $265.000, which included a $5,600 charge for freight. Installation costs of $28,000 were incurred. b. On March 31, 2018, a small storage building was slonated to the company. The person donating the building originally purchased it three years ago for $26,000. The fair value of the building on the day of the donation was $17400 c. On May 1, 2018, expenditures of $51,000 were made to repave parking lots at Pell's plant location. The work was necessitated by damage caused by severe winter weather. d. On November 1, 2018, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pell's common stock that had a market price of $39 per share. Pell paid legal fees and title insurance totaling $23.500. Shortly after acquisition, the building was razed at a cost of $36,000 in anticipation of new building construction in 2019. e. On December 31, 2018, Pell purchased a small storage building by giving $15,500 cash and an old automobile purchased for $18,500 on January 1, 2017 Depreciation on the old automobile recorded through December 31, 2018, totaled $13,875. The fair value of the old automobile was $3,800 For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2018, using the following depreciation methods and useful lives: Required Land improvements-Straight line; 15 years. Building-150% declining balance; 20 years. Machinery and equipment-Straight line: 10 years Automobiles-150% declining balance: 3 years. Depreciation is computed to the nearest month and no residual values are used. (Do not round intermediate calculations and round your final answers to 2 decimal places.) PELL CORPORATION Depreciation Expense For the Year Ended December 31, 2018 Land Improvements Building Machinery and equipment Automobiles Total depreciation expense for 2018 $ 0.00