Logic $C_0,$ recently negotiated a lump$-$sum purchase of several assets from a company that was going out of business. The purchase was completed on March $1,2023,$ at a total cash price of $$1,520,000$ and included a building, land, certain land improvements, and $20$ vehicles. The estimated market values of the assets were bullding. $$664,000$; land, $$597,600$; land improvements, $$49,800$; and vehicles, $$348,600.$ The company's fiscal year ends on December $31.$

Required:

Complete the following schedule to allocate the lump$-$sum purchase price to the separate assets that were purchased. Also present the journal entry to record the purchase.

$\backslash$table$[[,$Market Value,$\backslash$table$[[$Percentage of$],[$Total$]],\backslash$table$[[$Apportioned$],[$Cost$]],],[$Building$,,,\%,],[$Land$,,,,],[$Land improvements,,,,$],[$Vehicles$,,,,],[$Total$,,,,]]$

Calculate the $2023$ depreciation expense on the building using the straight$-$line method to the nearest whole month, assuming a $10$ year life and a $$20,000$ residual value.

Depreciation expense

$3.$ Calculate the $2023$ depreciation expense on the land improvements assuming a five$-$year life, $$15,000$ residual, and doutbledeclining$-$balance depreciation calculated to the nearest whole month.

Depreciation expense