XYZ Associates, a law firm purchased an office building with the accompanying land for $1,100,000....
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Accounting
XYZ Associates, a law firm purchased an office building with the accompanying land for $1,100,000.
The latest tax assessment records value this property as follows:
Land at $424,925 and Building at $572,819
How will XYZ Associates allocate the cost of this property on the books of the law firm?
Round percents to two decimal places (for example: 12.34%), and final answer to the nearest dollar.
Land: $ __________
Building: $__________
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