1. A company paid $326,000 for property that included land, land improvements, and a building. The land was appraised at $175,000, the land improvements were appraised at $70,000, and the building was appraised at $105,000. What is the allocation of property costs to the three assets purchased? PLEASE ANSWER PURCHASE PRICE

Item:	Appraisal	%	Purchase Price	Allocation
Building	105,000	30%		$97,800
Land	175,000	50%		$163,000
Land Improvements	70,000	20%		$65,200
	350,000			$326,000