Merchant Company purchased property for a building site The costs associated with the property were: 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? $193,400 to Land. $25,200 to Building. $207,600 to Land $8,600 to Building. $210,000 to Land: $2,600 to Building. $216,200 to Land: SO to Building $213,600 to Lane. $0 to Building