Falcon Waste Management purchased land and a warehouse for $$700,000.$ In addition to the purchase price, Falcon made the following expenditures related to the acquisition: broker's commission, $$40,000$; title insurance, $$8,000$; miscellaneous closing costs, $$11,000.$ The warehouse was immediately demolished at a cost of $$28,000$ in anticipation of the building of a new warehouse.

Determine the amounts Falcon should capitalize as the cost of the land and the building.

$\backslash$table$[[$Capitalized cost of land$],[$Capitalized cost of building$]]$