Coronado Co$.$ purchased land as a factory site for $$496,000.$ The process of tearing down two old buildings on the site and constructing the factory required $6$ months.

The company paid $$52,080$ to raze the old buildings and sold salvaged lumber and brick for $$7,812.$ Legal fees of $$2,294$ were paid for title investigation and drawing the purchase contract. Coronado paid $$2,728$ to an engineering firm for a land survey, and $$84,320$ for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. Title insurance on the property cost $$1,860,$ and a liability insurance premium paid during construction was $$1,116.$ The contractor's charge for construction was $$3,397,600.$ The company paid the contractor in two installments: $$1,488,000$ at the end of $3$ months and $$1,909,600$ upon completion. Interest costs of $$210,800$ were incurred to finance the construction.

Determine the cost of the land and the cost of the building as they should be recorded on the books of Coronado Co$.$ Assume that the land survey was for the building.

Cost of the Land

$

Cost of the Building $