10 value: 1.00 points Problem 10-1A Plant asset costs; depreciation methods LO C1, P1 Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2013, at a total cash price of $900,000 for a building land, land i $508,800; land, $297,600; land improvements, $28,800; and four vehicles, $124,800. The company's fiscal year ends on December 31 mprovements, and four vehicles. The estimated market values of the assets are building Required 1.1 Prepare a table to allocate the lump-sum purchase price to the separate assets purchased Percent of Total Allocation of total cost Appraised Value Total cost of Acquisition Apportioned Cost Appraised Total cost Value Building Land Land improvements Vehicles Total 0 0% 0