Ivanhoe Flight Acadetny acquired a new site for its training operations. The company was able to find a small unused airport with an updated rumway and hangar that could be used to accommodate a flight simulator, small aircraft, and classrooms. The focation was ideal as it was close to the city centre with a large population base from which to attract students, Ivanhoe paid 5640 million to acquire the site. Prior to providing financing for the purchase, the bank required that an appraisal be completed of the property. The evaluation appraisal report came back with the following estimated market values: land $3,470,880, butding $2,541,180, and land improvements $185,940. Ivanhoe management explained, to the bank's satistaction, that it paid the $202,000 premium because of the property's proximity to the city centre and access to alarge population base from which to draw students. (a1) Alocate the $6,40-million purchase price to the land, building, and land improvements