Fullerton Waste Management purchased land and a warehouse for $720,000. In addition to the purchase price, Fullerton made the following expenditures related to the acquisition: broker's commission, $42,000; title insurance, $9,000; miscellaneous closing costs, $12,000. The warehouse was immediately demolished at a cost of $30,000 in anticipation of the building of a new warehouse. Determine the amounts Fullerton should capitalize as the cost of the land and the building. Capitalized cost of land Capitalized cost of building $ $ 508,950 0