At December 31, 2020, Cord Company's plent esset end eccumulated deprecietion end emontizetion accounts had belances es follows: Accntated Depreciation nd Aortiation Category La Land provenents Plant Asset S 12,00 tolaent Autoneles and trucks 1,0, 0 1,4,00 335, 4, S Lensehele inprovenents 115, Deprecietion methods end useful ives: Buldings-15O% declining belence, 25 years. Automobles end trucks-200s decining belance. 5 years, all ecquired eter 2017. Lesehold improvements-Straight line. Land improvements-Straight ine Deprecietion is compuned to te nearest month and residual velues ere immeterial. Transactions during 2021 and other informetion . On Jenuary 6, 2021, e pient fecity consisting of land end bulding wes ecquired from King Corp. in exchange for 32.000 shares of Cord's common stock. On this dete. Cord's stock had a fair value of S60 a share. Cument assessed values of land and bulding for property tax purposes are $246.000 and $574,000, respectively b. On Merch 25. 2021, new parking lots, streets, and sidewalks et the acquired plant fecity were completed et a total cost of $234.000. These expenditures had an estimated usefu fe of 12 years e The leasehold improvements were completed on December 31, 2017, and hed an estimated useful ife of eight years. The related leese, which would terminete on December 31, 2023, was renewable for an edditional fouryeer term. On April 30, 2021, Cord esercised the renewel option. a. On July 1. 2021, equipment was purchased et a total invoice cost of $332.000. Addtional costs of S000 for delivery and $57.000 for installetion were incumed.

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing t…