On January $6,2024,$ a plant facility consisting of land and building was acquired from King Corporation in exchange for $25,000$ 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 $$187,500$ and $$562,500,$ respectively.

On March $25,2024,$ new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $$192,000.$ These expenditures had an estimated useful life of $12$ years.

The leasehold improvements were completed on December $31,2020,$ and had an estimated useful life of eight years. The related lease, which would terminate on December $31,2026,$ was renewable for an additional four$-$year term. On April $30,2024,$ Cord exercised the renewal option.