their estimated useful lives ranging as follows: 
  Building      40 years
  Heavy equipment     15 years
  Vehicles      10 years
  Furniture, fixtures and office equipment   5‑10 years
  leaseholds      lease term
(H) Inventory
inventory represents manufactured homes available for sale. the manufactured homes are valued at the lower of cost (purchase price 
plus delivery and setup costs) and net realizable value.  Net realizable value is the estimated selling price in the ordinary course of business 
based on market prices at the reporting date less costs to complete and the estimated costs of sale.
(I) Cash
Cash is comprised of bank balances and interest‑earning bank accounts.
(J) Share‑Based Compensation
The Company issues share‑based awards to certain employees and non‑employee directors whereby employees render services as 
consideration for equity instruments (equity‑settled transactions). 
72 Killam ProPerties inc | 2013