Ogden Furniture purchased land, paying $95,000 cash and signing a $270,000 note payable. In addition, Ogden Furniture paid delinquent property tax of $5,500, title insurance costing $2,500, and $3,000 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 $52,000 for a fence around the property, $15,000 for a sign near the entrance, and $11,000 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 = The total cost of the land improvements = The cost of the building- Requirement 2. Which of these assets will Ogden Furniture depreciate? Ogden Furniture will depreciate