Crane Farms purchased real estate for $1170000, which included $5,100 in legal fees.It paid $243000 cash and incurred a mortgage payable for the balance. The real estate included land that was appraosed at $472150, a building appraised at $755,440, and fences and other land improvements appraised at $121,410. The building has an estimated useful life of 60 years and a $51,000 residual value. Land improvements have an estimated 15 -year useful life and no residual value