Indicate whether each of the following expenditures should be classified as land, land improvements, buildings, equipment, or none of these. Cost to clear and grade land. Interest on loan to construct a building Cost of trial runs for machinery 1. Land Electricity used by a machine during operation 2. Land Improvements Cost to install a machine 3. Building 4. Equipment machinery 1. Land Electricity used by a machine during operation 2. Land Improvements Cost to install a machine 3. Building 4. Equipment Parking lots 5. None of these Cost of materials to construct a building Fences Cost of tearing down a building when land is purchased