The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December Plant Asset Accumulated Depreciation Land $ 335 ,000 Land improvements 175, 500 42,000 Building 1, 470,000 393 , 822 Equipment 1, 128 ,000 390 000 Automobiles 147,000 110 ,500 Transactions during 2024 were as follows: a. On January 2, 2024, equipment were purchased at a total invoice cost of $245,000, which included a $5,200 Installation costs of $24,000 were incurred in addition to the invoice cost. b. On March 31, 2024, a small storage building was donated to the company. The person donating the building or it three years ago for $22,000. The fair value of the building on the day of the donation was $15,400. c. On May 1, 2024, expenditures of $47,000 were made to repave parking lots at Pell's plant location. The work w by damage caused by severe winter weather. The repair doesn't provide future benefits beyond those originally d. On November 1, 2024, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pe stock that had a market price of $35 per share. Pell paid legal fees and title insurance totaling $21,500. Shortly the building was razed at a cost of $32,000 in anticipation of new building construction in 2025. e. On December 31, 2024, Pell purchased a small storage building by giving $14,500 cash and an old automobile $16,500 in 2017. Depreciation on the old automobile recorded through December 31, 2024, totaled $12,375. The old automobile was $3,600. Required: For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2024, using depreciation methods and useful lives