Murphy Self Storage purchased land, paying $175,000 cash as a downpayment and signing a $200,000 note payable for the balance. Murphy also had to pay delinquent property tax of $1,000, title insurance costing $1,500, and $3,000 to level the land and remove an unwanted building. The company paid $63,000 to add soil for the foundation and then constructed an office building at a cost of $700,000. It also paid $52,000 for a fence around the property, $18,000 for the company sign near the property entrance, and $11,000 for lighting of the grounds. Requirement 1. Determine the cost of Murphy's land, land improvements, and building. The cost of the land is $ The cost of the land improvements is $ The cost of the building is $