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[The following information applies to the questions displayed below.] On January 1,Mitzu Company...

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Accounting

[The following information applies to the questions displayed below.]
On January 1,Mitzu Company pays a lump-sum amount of $2,750,000for land, Building 1,Building 2,and Land Improvements 1.Building 1has no value and will be demolished. Building 2will be an office and is appraised at $640,500,with a useful life of 20years and a $85,000salvage value. Land Improvements 1is valued at $549,000and is expected to last another 18years with no salvage value. The land is valued at $1,860,500.The company also incurs the following additional costs.
Cost to demolish Building 1 $ 345,400
Cost of additional land grading 187,400
Cost to construct Building 3,having a useful life of 25years and a $398,000salvage value 2,222,000
Cost of new Land Improvements 2,having a 20-year useful life and no salvage value 168,000
Required:
1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column.
( I need help solving for the purchase price of land, building 2, building 3, and land improvements 1)

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