A company paid $110,000, plus a 7% commission and $4,000 in closing costs for property. The property included land appraised at $87, 500, land improvements appraised at $35,000, and building appraised at $52, 500. What should be the allocation of this property's costs in the company's accounting records? Land $60, 850: Land improvements. $24, 340; Building. $36, 510 Land $87, 500: Land improvements; $35.000 Building. $52, 500 Land $55,000: Land Improvements, $22,000; Building. $33,000 Land $22,000: Land Improvements; $33,000; Building. $55,000 Land $24, 340: Land improvements, $36, 510; Building. $60, 850