Check Brief Exercise 10-3 (Algo) Lump-sum acquisition [LO10-2] Fullerton Waste Management purchased land and a warehouse for $790,000. In addition to the purchase price, Fullerton made the following expenditures related to the acquisition: broker's commission, $49,000; title insurance, $12,500; miscellaneous closing costs, $15,500. Assume that Fullerton decides to use the warehouse rather than demolish it. An independent appraisal estimates the fair 7:33 values of the land and warehouse at $623,000 and $267,000, respectively. Determine the amounts Fullerton should capitalize as the cost of the land and the building. ces Capitalized cost of land $ 904,000 Capitalized cost of building $ 0