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Note 4. General Property, Plant and Equipment

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Equipment and information technology (IT) assets are capitalized annually if they have useful lives of at least two years and an individual value of $25,000 or more. Bulk or aggregate purchases are capitalized when the individual useful lives are at least two years and a value of $25,000 or more. Depreciation for equipment and software is computed on a straight-line basis using a 5-year life. Leasehold improvements are amortized over the remaining life of the lease. General Property, Plant and Equipment as of September 30, 2010 and 2009 consisted of the following:

GENERAL PROPERTY, PLANT AND EQUIPMENT
As of September 30, 2010
2010
Major Class
Service Life and Method Cost Accumulated
Amortization/
Depreciation
Net Book
Value
Equipment 5 Years/Straight Line $16,216,141 $(3,676,813) $12,539,328
IT Software 5 Years/Straight Line 7,942,333 (3,230,165) 4,712,168
Software in Development Not Applicable 1,778,364 - 1,778,364
Leasehold Improvements Remaining Life of Lease/Straight Line 12,346,711 (653,766) 11,692,945
Construction In Progress Not Applicable 784,349 - 784,349
    $39,067,898 $(7,560,744) $31,507,154


GENERAL PROPERTY, PLANT AND EQUIPMENT
As of September 30, 2009
2009
Major Class
Service Life and Method Cost Accumulated
Amortization/
Depreciation
Net Book
Value
Equipment 5 Years/Straight Line $7,327,516 $(1,552,199) $5,775,317
IT Software 5 Years/Straight Line 4,760,185 (2,087,920) 2,672,265
Software in Development Not Applicable 1,293,029 - 1,293,029
Leasehold Improvements Remaining Life of Lease/Straight Line 673,456 (67,346) 606,110
    $14,054,186 $(3,707,465) $10,346,721

 

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