Milloy Furniture purchased land, paying $60,000 cash and signing a $290,000 note payable. In addition, Milloy paid delinquent property tax of $1,000, title insurance costing $3,500, and $8,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $550,000. It also paid $53,000 for a fence around the property, $19,000 for a sign near the entrance, and $6,000 for special lighting of the grounds. Requirements: 1. Determine the cost of the land, land improvements, and building. 2.Which of these assets will Milloy depreciate?