Wonder Mountain Company operates a snow sports resort for skiers and snowboarders. The company has recently decided to replace an existing old chair lift with a new high speed quad chair and expand the hill to allow for increased capacity. The old chair lift was a $725,000 asset on the books, 90% depreciated. The work was completed from April to November. Wonder Mountain incurred the following costs for the expansion:

Invoice price high-speed quad chair lift .............................................$1,500,000

Costs to dismantle old chair lift ...........................................................      27,500

Cash received for sale used chair lift ..................................................    150,000

Shipping costs for delivery ...................................................................     17,500

Landscape architect fees, grading expansion hill ..............................      6,000

Permit costs ............................................................................................      4,000

Clearing trees/grading land for expansion .........................................    42,500

Installation of concrete bases for chair lift .........................................    90,000

Helicopter rental to install towers for chair lift ...................................    80,000

Labour installation ski lift ......................................................................  250,000
Training employees on maintenance and operation .........................      7,500

Testing of chair lift ..................................................................................    25,000

Interest costs on loan for construction................................................    60,000

General overhead costs .......................................................................     30,000

Annual routine maintenance...............................................................     45,000

Purchase tools required for annual maintenance .............................    75,000

Required:

Calculate the total cost for each asset:

a. Land

b. Ski lift

c. Tools