Property, Buildings and Equipment

12 Months Ended

Dec. 31, 2018

Property, Buildings and Equipment

Property, Buildings and Equipment

4. Property, Buildings and Equipment

Property, buildings, and equipment consist of the following as of December 31, 2018 and 2017:

	December 31, 2018		December 31, 2017
Land and land improvements	$	21,603,610	$	21,603,610
Buildings		25,460,387		25,460,387
Furniture, fixtures and equipment		12,146,024		12,014,451
Construction in progress		206,952		52,269
		59,416,973		59,130,717
Less accumulated depreciation		(25,034,431)		(23,000,065)
	$	34,382,542	$	36,130,652

Depreciation expense was $2,127,191 and $2,443,889 for the years ended December 31, 2018 and 2017, respectively. The cost of assets under capital leases for equipment was $2,059,243 as of December 31, 2018 and 2017. Depreciation expense and related accumulated depreciation for assets under capital leases was $379,790 and $1,608,825, respectively, as of and for the year ended December 31, 2018 and $423,333 and $1,229,035 as of and for the year ended December 31, 2017, respectively.