4 Alpha Company commenced operations on January 1 of the current year. During the year, the company incurred the following: Taxes in arrears assumed by Alpha Payment for land Architect fee Payment to city hall for approval of building construction Contract price for new building Service equipment made as permanent part of building Safety fence around construction site Safety inspection on new building Removal of safety fence after completion of new building Cost of changes to plans and specifications due to inefficiencies P100,000 2,000,000 460,000 240,000 9,500,000 2,000,000 70,000 60,000 40,000 220,000 90,000 New permanent fence surrounding the new building Driveways, parking bays, and safety lighting Saving on construction 600,000 300,000 Determine the cost of the land, building and land improvements