Items a. to i. I a. Purchase price of 4 acres of land, including an old building that will be used for an office (land fair value is $285,000, building fair value is $70,000)... b. Landscaping (additional dirt and earth moving).. c. Fence around the land. $315,000 10,600 18,720 d. Lawyer fee for title search on the land..... 600 e. Delinquent real estate taxes on the land to be paid by MMS. 7,800 f. Company signs at front of the company property..... 3,600 g. Building permit for the warehouse.. 970 h. Architect fee for the design of the warehouse.. 21,900 i. Masonry, carpentry, roofing, and other labour to construct the warehouse. 815,000 Assume MMS depreciates buildings over 40 years, land improvements over 20 years, and furniture over 8 years, all on a straight-line basis with zero residual value. Print Done