Check my w 13 Problem 11-2 (Algo) Comprehensive problem; Chapters 10 and 11 [LO11-2, 11-4] At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: ints Accumulated Depreciation Category Plant Asset and Amortization Land eBook $ 181,000 $ Land improvements Buildings References 1, 800, 000 334, 900 Equipment 1, 425, 000 323,500 Automobiles and trucks 178, 000 106, 325 Leasehold improvements 228, 000 114,000 Depreciation methods and useful lives: Buildings-150% declining balance; 25 years. Equipment-Straight line, 10 years. Automobiles and trucks-200% declining balance; 5 years, all acquired after 2017. Leasehold improvements-Straight line. I Land improvements-Straight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2021 and other information: a. On January 6, 2021, a plant facility consisting of land and building was acquired from King Corp. in exchange for 31,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $202,500 and $607,500, respectively