depr to acquire land, ae tion [20-25 20-25 P9-27A (L.OBJ. 1, 2) Capitalized asset cost and Partial year depreciation Airport Parking, near an airport, incurred the following costs to a " land improvements, and construct and furnish a small building: a. Purchase price of 3 acres of land.$ 82,000 6,300 b. Delinquent real estate taxes on the land to be paid by Airport Parking.. c. Additional dirt and earthmoving ...r..8,700 d. Title insurance on the land acquisition ...........3,300 e. Fence around the boundary of the property . . . . . . . . . . . 9,800 f. Building permit for the building .. . . .. . ...........700 g. Architect's fee for the design of the building..23,100 h. Signs near the front of the property. j. Labor to construct the building . . . . . . . . . . . . . . . . . . . . 167,000 k. Interest cost on construction loan for the building . . ....9,100 L. Parking lots on the property .......................28,800 ..11,400 n. Salary of construction supervisor (75% to building; 25% to parking lot and concrete walls) . . . . . . . . . . . . . o. Furniture P. Transportation of furniture from seller to the building . q. Landscaping (shrubs).. 70,000 11,100 2,600 6,200 Airport Parking depreciates land improvements over 15 years, buildings ow and furniture over 12 years, all on a straight-line basis with zero residual vabe ngs over 30 yat