Ayer Furniture purchased land, paying $90,000 cash and signing a $280,000 note payable. In addition, Ayer paid delinquent property tax of $2,000, title insurance costing $3,000 and $9,000 to level the land and remove an unwanted building The company then constructed an office building at a cost of $750,000. It also paid $55,000 for a fence around the property, $18,000 for a sign near the entrance, and $6,000 for special lighting of the grounds Read the requirements Requirement 1. Determine the cost of the land, land improvements, and building The cost of the land is The total cost of the land improvements in The cost of the building is Requirement 2. Which of these assets will Aver depreciate? Ayer will depreciate the building and the land improvements