Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 3 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consisted of the following:

 

   September 30,   December 31, 
   2020   2019 
Permit of land use  $413,603   $403,755 
Building   9,604,495    9,375,817 
Plant, machinery and equipment   28,077,699    26,309,262 
Motor vehicle   315,854    308,334 
Office equipment   224,819    217,058 
Total   38,636,470    36,614,226 
Less: accumulated depreciation   (22,799,580)   (20,300,399)
Property, Plant and Equipment, net  $15,836,890   $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. For the three months ended September 30, 2020 and 2019, depreciation expense was $664,400 and $677,395, respectively and $1,951,986 and $2,212,731 for the nine months ended September 30, 2020 and 2019, respectively.