Fullerton Waste Management purchased land and a warehouse for $760,000. In addition to the purchase price, Fullerton made the following expenditures related to the acquisition: broker's commission. $46,000; title Insurance, $11,000; miscellaneous closing costs. $14,000. The warehouse was immediately demolished at a cost of $34,000 in anticipation of the building of a new warehouse. Determine the amounts Fullerton should capitalize as the cost of the land and the building