25. A company purchased land with a building for a lump-sum cost of $2,570,000, paying $500,000 in cash and signing a note payable with a bank for the remainder). The controller estimated that the land and building had market values of $600,000 and $2,400,000, respectively. Determine the cost to be allocated to the land and to the building. Show your calculation in detail. 26. A company purchased a machine. The following costs were incurred in the purchase and installation of the machine. Place a check mark next to each cost that should be included in the amount capitalized in the property plant & equipment category on the company's balance sheet. Invoice price plus sales tax Freight costs Setup costs Costs to adjust machine to appropriate specifications Electrical connections Maintenance supplies for future use Cost of special foundation for machine $ 1,270,500 9,000 51,000 36,000 32,000 108,000 18,500 ASSETS LIABILITIES EQUITY Non-current Assets Property, Plant & Current Assets Equipment Intangible Investments Assets Other Non-Current Contributed Accumulated Current Liabilities Liabilities Capital Earned Capital OCI C