Martin Buber Co$.$ purchased land as a factory site for $$400,000.$ The process of tearing down two old buildings on the site and constructing the factory required $6$ months.

The company paid $$42,000$ to raze the old buildings and sold salvaged lumber and brick for $$6,300.$ Legal fees of $$1,850$ were paid for title investigation and drawing the purchase contract. Martin Buber paid $$2,200$ to an engineering firm for a land survey, and $$68,000$ for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. Title insurance on the property cost $$1,500,$ and a liability insurance premium paid during construction was $$900.$ The contractor's charge for construction was $$2,740,000.$ The company paid the contractor in two installments: $$1,200,000$ at the end of $3$ months and $$1,540,000$ upon completion. Interest costs of $$170,000$ were incurred to finance the construction.

Determine the cost of the land and the cost of the building as they should be recorded on the books of Martin Buber $Co.$ Assume that the land survey was for the building.

Cost of the Land

$

Cost of the Building

$