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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 7. PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consisted of the following at December 31, 2022 and 2021:

 

   Estimated
Useful Life		  December 31,
2022		   December 31,
2021		 
Building  25 years  $4,537,037   $4,909,478 
Land  Infinite   739,734    789,734 
Office furniture, fixtures, equipment, and aircraft  3-20 years   2,048,169    493,652 
Warehouse and production equipment  3-7 years   51,302    65,948 
Demonstration and tradeshow equipment  3-7 years   72,341    82,337 
Building improvements   5-7 years   1,334,374    911,940 
Rental equipment  1-3 years   —    8,584 
Total cost      8,782,957    7,261,673 
Less: accumulated depreciation and amortization      (884,271)   (420,647)
              
Net property, plant and equipment     $7,898,686   $6,841,026 

 

Depreciation and amortization of property, plant and equipment aggregated $614,121 and $258,999 for the years ended December 31, 2022 and 2021, respectively. The cost and accumulated depreciation related to assets sold or retired are removed from the accounts and any gain or loss is credited or charged to income. The Company retired fixed assets during 2022 totaling $549,104 resulting in a gain on sale of assets of $212,831 for the year ended December 31, 2022 on the Company’s Consolidated Statement of Operations. The Company retired fixed assets during 2021 totaling $391,535 all of which were fully depreciated resulting in no gain or loss for the year ended December 31, 2021.