Fullerton Waste Management purchased land and a warehouse for $690,000. In addition to the purchase price. Fullerton made the following expenditures related to the acquisition: broker s commission, $39,000; title insurance, $7,500; miscellaneous closing costs, $10,500. The warehouse was immediately demolished at a cost of $27,000 in anticipation of the building of a new warehouse. Determine the amounts Fullerton should Capitalize as the cost of the land and the building