Fullerton Waste Management purchased land and a warehouse for $740,000. In addition to the purchase price, Fullerton made the following expenditures related to the acquisition: broker's commission, $44,000: title insurance, $10,000: miscellaneous closing costs, $13,000. An independent appraisal estimates the fair values of the land and warehouse at $630,000 and $210,000, respectively. Determine the amounts Fullerton should capitalize as the cost of the land and the building. Capitalized cost of land $ 484, 200 Capitalized cost of building $ 322, 800