Merchant Company burchased property for a building site. The costs associated with the property were Purchase price Real estate commissions Legal fees Expenses of clearing the land $ 180,000 15,500 1,300 2,500 1,500 Expenses to remove old building What portion of these costs should be allocated to the cost of the land and what portion should be allocated to the cost of the new building? Multiple Choice to search < Prev 3 of 10 Next >> 0 724 O32% Cloudy 130922 C E