Crane Farms purchased real estate for $1,205,000, which included $6,200 in legal fees. It paid $250,000 cash and incurred a mortgage payable for the balance. The real estate included land that was appraised at $476,000, a building appraised at $761,600, and fences and other land improvements appraised at $122,400. The building has an estimated useful life of 60 years and a $52,000 residual value. Land improvements have an estimated 15 -year useful life and no residual value. (a) Your answer is incorrect. Calculate the cost that should be allocated to each asset purchased. Land Building $ Land Improvements eTextbook and Media List of Accounts Attempts: 2 of 3 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above