Belvidere Systems purchased land, paying $60,000 cash as a down payment and signing a $100,000 note payable for the balance. In addition, Belvidere Systems paid delinquent property tax of $3,000, tle insurance costing $3,500, and a $12,100 charge for leveling the land and removing an unwanted building. The company constructed of $900,000. It also paid $51,000 for a fence around the property, $12,000 for the company an office building on the land at a cost the company sign near the entrance, and $5,000 for special lighting of the grounds Requirements 1. Determine the cost of the company's land, land improvements, and building. 2. Which of the assets will Belvidere depreciate? Noth n ob Requirement 1. Determine the cost of the company's land, land improvements, and building The cost of the land is $ The total cost of the land improvements is The cost of the building is $ Requirement 2. Which of the assets will Belvidere depreciate? Belvidere will depreciate S Belvidere Systems purchased land, paying $60,000 cash as a down payment and signing a balance. In addition, Belvidere Systems paid delinquent property tax of $3,000, title insurance charge for leveling the land and removing an unwanted building. The company constructed a of $900,000. It also paid $51,000 for a fence around the property, $12,000 for the company si special lighting of the grounds. Requirements 1. Determine the cost of the company's land, land improvements, and building. 2. Which of the assetsw E all of the assets. Requirement 1. Determir the building. The cost of the land is the building and the land. The total cost of the land The cost of the building i the land and the land improvements. Requirement 2. Which o the land improvements. ents, and building. the building and the land improvements. the land. S Belvidere will depreciate