Milloy Furniture purchased land, payling $65,000 cash and sigring a $320,000 note payable In addition, Milloy paid delinquent property tax of $2,005, tha insarance costing $5,000 and $8,000 to level the land and temove an unwanted building The company then constructed an office bulling at a cost of $400,000. It also paid $46,000 for a fence aroand the property, $19,000 for a sign near the entrance, and $9,000 for special lighting of the grounds Read the Bosuitements Requirerment 1. Determine the cost of the land, land improvements, and building The cost of the land is