Belvidere Furniture purchased land, paying $95,000 cash and signing a $260,000 note payable. In addition, Belvidere paid delinquent property tax of $2,500, title insurance costing $3,000, and $7,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $650,000. It also paid $49,000 for a fence around the property, $12,000 for a sign near the entrance, and $4,000 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 on 1 Requirements the property, $12,000 for a sign near the entrance, and $4.00 1. Determine the cost of the land, land improvements, and building. 2. Which of these assets will Belvidere depreciate? Print Done