The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2015:

	Plant Asset			Accumulated Depreciation
Land	$	305,000		$	0
Land improvements		166,500			36,000
Building		1,410,000			305,000
Machinery and equipment		1,068,000			360,000
Automobiles		141,000			107,500

	Transactions during 2016 were as follows:
a.	On January 2, 2016, machinery and equipment were purchased at a total invoice cost of $215,000, which included a $4,600 charge for freight. Installation costs of $18,000 were incurred.
b.	On March 31, 2016, a machine purchased for $49,000 in 2012 was sold for $32,000. Depreciation recorded through the date of sale totaled $20,825.
c.	On May 1, 2016, expenditures of $41,000 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, 2016, 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 $29 per share. Pell paid legal fees and title insurance totaling $18,500. Shortly after acquisition, the building was razed at a cost of $26,000 in anticipation of new building construction in 2017.
e.	On December 31, 2016, Pell purchased a new automobile for $13,000 cash and trade-in of an old automobile purchased for $13,500 in 2012. Depreciation on the old automobile recorded through December 31, 2016, totaled $10,125. The fair value of the old automobile was $3,300.

Required:

For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2016, using the following depreciation methods and useful lives:

Land improvementsStraight line; 15 years.

Building150% declining balance; 20 years.

Machinery and equipmentStraight line; 10 years.

Automobiles150% declining balance; 3 years.

Depreciation is computed to the nearest month and no residual values are used. (Do not round intermediate calculations.)

Pell corporation/Depreciation Expense/ For the year ended December 31, 2016.

Land Improvements $_______

Building $_________

Machinery & Equipment $________

Auto Mobiles $_____________

Total Depreciation Expense of 2016 $___________

***I only have about 45 minutes to complete this. Please help***