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Property, Plant and Equipment
 3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 3 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consisted of the following:

 

   March 31,   December 31, 
   2020   2019 
Permit of land use  $397,549   $403,755 
Building   9,231,708    9,375,817 
Plant, machinery and equipment   26,245,097    26,309,262 
Motor vehicle   303,595    308,334 
Office equipment   216,093    217,058 
Total   36,394,042    36,614,226 
Less: accumulated depreciation   (20,625,801)   (20,300,399)
Property and Equipment, net  $15,768,241   $16,313,827 

 

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:

 

Asset   Life - years
Permit of land use  40 - 70
Building  20 - 49
Plant, machinery and equipment  5 - 10
Motor vehicle  5 - 10
Office equipment  3-5

 

Depreciation relating to office equipment was included in general and administrative expenses, while all other depreciation was included in cost of revenue. Depreciation expense was $647,113 and $772,861 for the three months ended March 31, 2020 and 2019, respectively.