Milloy Furniture purchased land, paying $90,000 cash and signing a $250,000 note payable. In addition, Milloy paid delinquent property tax of $2,500, title insurance costing $4,500, and $8,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $450,000. It also paid $46,000 for a fence around the property, $16,000 for a sign near the entrance, and $7,000 for special lighting of the grounds. Read the requirements. Requirement 1. Determine the cost of the land, land improvements, and building. The cost of the land is