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Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: $3 Title insurance Legal fees for drawing the contract Pro-rated property taxes for the period after acquisition State transfer fees 5 An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3.6 and $1.2 million, respectively. Shortly after acquisition, Samtech spent $98,000 to construct a parking lot and $56,000 for landscaping Required: 1. Determine the initial valuation of each asset Samtech acquired in these transactions 2. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $410,000 and the salvaged materials were sold for $9,000. In addition, Samtech spent $95,000 clearing and grading the land in preparation for the construction of a new building. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the initial valuation of each asset Samtech acquired in these transactions Assets Initial Valuation Land Building Land improvements Required 2 > Pro 3 12 BRE Neyt Check my work aring purchased land and building for $4 million. In addition ce, Samtech made the following expenditures in connection f the land and building: Drawing the contract rty taxes for the period after acquisition fees $32,000 8,000 52,000 5,600 praisal estimated the fair values of the land and building, if ely, at $3.6 and $1.2 million, respectively. Shortly after h spent $98,000 to construct a parking lot and $56,000 for tial valuation of each asset Samtech acquired in these itial valuation of each asset, assuming that immediately amtech demolished the building. Demolition costs were alvaged materials were sold for $9,000. In addition, 5,000 clearing and grading the land in preparation for the ew building. question by entering your answers in the tabs below. quired 2 Eial valuation of each asset Samtech acquired in these transactions. (Enter your Initial Valuation Required 2 Check my work LLL LUI Legal fees for drawing the contract Pro-rated property taxes for the period after acquisition State transfer fees An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3.6 and $1.2 million, respectively. Shortly after acquisition, Samtech spent $98,000 to construct a parking lot and $56,000 for landscaping Required: 1. Determine the initial valuation of each asset Samtech acquired in these transactions. 2. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $410,000 and the salvaged materials were sold for $9,000. In addition, Samtech spent $95,000 clearing and grading the land in preparation for the construction of a new building. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the initial valuation of each asset, assuming that immediately after acc Demolition costs were $410,000 and the salvaged materials were sold for $9,000. clearing and grading the land in preparation for the construction of a new building Initial Valuation Assets Land Building Land improvements Pro 3 12 BRE Neyt Check my work aring purchased land and building for $4 million. In addition ce, Samtech made the following expenditures in connection f the land and building: Drawing the contract rty taxes for the period after acquisition fees $32,000 8,000 52,000 5,600 praisal estimated the fair values of the land and building, if ely, at $3.6 and $1.2 million, respectively. Shortly after h spent $98,000 to construct a parking lot and $56,000 for tial valuation of each asset Samtech acquired in these itial valuation of each asset, assuming that immediately amtech demolished the building. Demolition costs were alvaged materials were sold for $9,000. In addition, 5,000 clearing and grading the land in preparation for the ew building. question by entering your answers in the tabs below. quired 2 Eial valuation of each asset Samtech acquired in these transactions. (Enter your Initial Valuation Required 2 Check my work LLL LUI Legal fees for drawing the contract Pro-rated property taxes for the period after acquisition State transfer fees An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3.6 and $1.2 million, respectively. Shortly after acquisition, Samtech spent $98,000 to construct a parking lot and $56,000 for landscaping Required: 1. Determine the initial valuation of each asset Samtech acquired in these transactions. 2. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $410,000 and the salvaged materials were sold for $9,000. In addition, Samtech spent $95,000 clearing and grading the land in preparation for the construction of a new building. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the initial valuation of each asset, assuming that immediately after acc Demolition costs were $410,000 and the salvaged materials were sold for $9,000. clearing and grading the land in preparation for the construction of a new building Initial Valuation Assets Land Building Land improvements