6 14.28 points Fullerton Waste Management purchased land and a warehouse for $770,000. In addition to the purchase price, Fullerton made the following expenditures related to the acquisition: broker's commission, $47,000; title insurance, $11,500; miscellaneous closing costs, $14,500. An independent appraisal estimates the fair values of the land and warehouse at $522,000 and $348,000, respectively. Determine the amounts Fullerton should capitalize as the cost of the land and the building. Print References Capitalized cost of land Capitalized cost of building Mc Graw Hill < Prev 6 of 7 Next >