Laramie Company paid $600,000 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 seperately: Land, $84,000, Building, $490,000, and Office furniture, $126,000. What is the cost that should be allocated to the land?

Laramie Company pald $600,000 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, $84,000, Building. $490,000, and Office Furniture, $126,000. What is the cost that should be allocated to the land