5. The purchase price of an acquired piece of property is $230,000 cash and has acquisition costs of $20,000. The tax assessment for this property is: TAX CARD Assessed Value Ratio Calculations Land $40,000 $40,000 / $200,000 = 20% Improvements $160,000 $160,000 / $200,000 = 80% Total Assessment $200,000 a. What is the acquisition basis for the purchased property? b. What is the allocation for land? c. What is the allocation for improvements?