Property And Equipment

12 Months Ended

Dec. 31, 2011

4. Property and Equipment

Property and equipment and estimated useful lives at December 31 are summarized as follows:


		2011			2010
Land	$	1,107,582		$	1,107,582
Office buildings and improvements (25 years)		3,259,383			3,196,546
Furniture, fixtures and equipment (3 to 10 years)		5,114,112			4,975,753
Automobiles (3 years)		792,592			704,417
Total		10,273,669			9,984,298
Less accumulated depreciation		(6,720,453	)		(6,311,981	)
Property and equipment, net	$	3,553,216		$	3,672,317

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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