Fullerton Waste Management purchased land and a warehouse for $730,000. In addition to the purchase price, Fullerton made the following expenditures related to the acquisition: broker's commission, \$43,000; title insurance, $9,500; miscellaneous closing costs, $12,500. Assume that Fullerton decides to use the warehouse rather than demolish it. An independent appraisal estimates the fair values of the land and warehouse at $581,000 and $249,000, respectively. Determine the amounts Fullerton should capitalize as the cost of the land and the building