The company does not lease any assets. The offices, wharfs, and processing plant are all located in a coastal town in Newfoundland. The company has some vacant land that could be used for expansion purposes. The net book values of the asset classes are as follows: Asset Value (in $'000s) Depreciation policy Land 125 Office building, wharfs, and processing plant 4,147 Straight-line over 50 years Processing and office equipment 6,230 Straight-line over 10 years Vessels 10,766 Straight-line over 20 years Vehicles 121 Straight-line over 8 years Total net book value 21,389