1. Olympic Products, Inc. acquired some land, several buildings, and various pieces of equipment at a total cost of $5,600,000. Independent appraisals valued the land at $2,100,000, the buildings at $3,400,000, and the equipment at $500,000. The owner of the company thinks the land should be valued at $1,000,000, the buildings at $3,850,000 and the equipment at $750,000. Using the most appropriate method, what dollar amount should be assigned to each category of asset?