Laramie Company paid $1,900,000 for a purchase that included land, building, and office furniture. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Land, $500,000, Building, $880,000, and Office Furniture. $620.000. Based on this Information the cost that would be allocated to the land is: (Do not round intermediate calculations.) Multiple Choice $350,000 $475,000 $500.000 $587,500