Crane Company, a manufacturer of ballet shoes, is experiencing a period of sustained growth. In an effort to expand its production

capacity to meet the increased demand for its product, the company recently made several acquisitions of plant and equipment. Rob

Joffrey, newly hired in the position of fixed$-$asset accountant, requested that Danny Nolte, Crane's controller, review the following

transactions.

Transaction $1$: On June $1,2025,$ Crane Company purchased equipment from Wyandot Corporation. Crane issued a $$26,400,4-$year,

zero$-$interest$-$bearing note to Wyandot for the new equipment. Crane will pay off the note in four equal installments due at the end of

each of the next $4$ years. At the date of the transaction, the prevailing market rate of interest for obligations of this nature was $9\%.$

Freight costs of $$460$ and installation costs of $$480$ were incurred in completing this transaction. The appropriate factors for the time

value of money at a $9\%$ rate of interest are given below.

During its fiscal year ended May $31,2026,$ Crane incurred $$7,570$ for interest expense in connection with the financing of these assets.

Transaction $3$: On March $1,2026,$ Crane Company exchanged a number of used trucks plus cash for vacant land adjacent to its plant

site. $($The exchange has commercial substance.$)$ Crane intends to use the land for a parking lot. The trucks had a combined book value

of $$38,280,$ as Crane had recorded $$19,960$ of accumulated depreciation against these assets. Crane's purchasing agent, who has had

previous dealings in the secondhand market, indicated that the trucks had a fair value of $$49,880$ at the time of the transaction. In

addition to the trucks, Crane Company paid $$17,710$ cash for the land.

$($b$)$ For each of the three transactions described above, determine the value at which Crane Company should record the acquired

assets. $($Round answers to $0$ decimal places e$.$g$.58,971.)$

Value

Transaction $1$$

Transaction $2$

Inventory $

Land $,$$

Building $