Murphy Industries, Inc. purchased land, paying $100,000 cash as a down payment and signing a $150.000 note payable for the balance. In addition, Murphy Industries, Inc., paid delinquent property tax of $1,500. Stle insurance costing $5,000, and a $5,600 charge for leveling the land and removing an unwanted building. The company constructed an office building on the land at a cost of $600,000. It also paid $54 000 for a fence around the property, $5,000 for the company sign near the entrance, and $6,000 for special lighting of the grounds. Read the requirements Requirement 1. Determine the cost of the company's land, land improvements, and bulding The cost of the land is $ The total cost of the land improvements is 5 The cost of the building is $ Requirement 2. Which of the assets will Murphy Industries, Inc. depreciate? Enter any number in the edit fields and then continue to the next