Chap 8 Saved Help Save & EX Chec of Required information [The following information applies to the questions displayed below) On January 1, Mitzu Co pays a lump-sum amount of $2,600,000 for land, Building 1, Building 2. and Land Improvements 1 Building 1 has no value and will be demolished Building 2 will be an office and is appraised at $644,000, with a useful life of 20 years and a $60.000 salvage value Land Improvements is valued at $420,000 and is expected to last another 12 years with no salvage value The land is valued at $1736.000. The company also incurs the following additional costs $ 328,400 175,466 Cost to demolish Building 1 Cost of additional land grading Cost to construct Building, having a useful life of 25 years and a $392,888 salvage value Cost of new Land Improvements having 20-year useful life and na salvage value 2,202,40 164,00 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column Percent of Total Allocation of Purchase Pure Appraised Total Cost of Apportioned Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column 13 Allocation of Purchase Price Appraised Value Percent of Total Apprained Value Total Cost of Acquisition Apportioned Cost ok Land Building 2 Land improvements 1 Totals X x Land Building Building Land Land Improvements 1 Improvements 2 Purchase Price Demolition Landgrading New building Construction cost) Now improvements Totals 9 e to search o