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PROPERTY AND EQUIPMENT
 12 Months Ended
Oct. 31, 2017
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

7.  PROPERTY AND EQUIPMENT

 

A summary of property and equipment is as follows:

 

 

 

 

 

 

 

 

 

 

    

October 31, 2017

    

October 31, 2016

 

Land and improvements

 

$

13,697,790

 

$

13,697,790

 

Railroad improvements

 

 

9,045,112

 

 

9,045,112

 

Process equipment and tanks

 

 

129,640,626

 

 

128,004,694

 

Administration building

 

 

569,328

 

 

569,328

 

Office equipment

 

 

989,690

 

 

907,652

 

Rolling stock

 

 

1,904,154

 

 

1,792,534

 

Construction in progress

 

 

777,655

 

 

315,631

 

 

 

 

156,624,355

 

 

154,332,741

 

Less: accumulated depreciation

 

 

(84,353,342)

 

 

(75,364,725)

 

Net property and equipment

 

$

72,271,013

 

$

78,968,016

 

 

Depreciation expense totaled approximately $9,320,000,  $9,641,000, and $9,612,000 for the fiscal years ended October 31, 2017, 2016, and 2015, respectively.