Exercise 7-3 (Algo) Allocate costs In a bosket purchase (LO7-1) Aed Rivet Bakey purchsses land, bulding, and equiprient for a single purchase price of $200.000 Howevec the estimiated fair values of the iand, builing, and equiament are $105,000,5180,000, and $15,000, respectively, for a total estimated fair value or $300,000. Required: Determine the amounts Red River should recond in the seporate occounts for the land, the bullding, and the ecuipment