14 115 116 117 Question 2 (10 marks) Cedar Incorporated paid $625,000 for land. The company had to pay $15,000 in back property taxes and $50,000 to remove the old building from the land. The company paid $1,900,000 for construction of a new building, including design. The company paid $250,000 for fencing, $125,000 for lighting around the outside of the building, $400,000 for a parking lot and $60,000 for Signage. Required Determine the cost of the Building, Land and Land Improvements