E9-2A. Allocation of Package Purchase Price Tamarack Company purchased a plant from one of its suppliers. The $1,000,000 purchase price included the land, a building, and factory machinery. Tamarack also paid $6,000 in legal fees to negotiate the purchase of the plant. An appraisal showed the following values for the items purchased:

Property Assessed Value

Land................................$126,000

Building...............456,000

Machinery.................. 318,000

Total..............................$900,000

Using the assessed value as a guide, allocate the total purchase price of the plant to the land, building, and machinery accounts in Tamarack company's records.