On 1/2/22, Kantor Corporation acquired a manufacturing facility on four acres of land for a lump-sum price of $8,000,000. The building included used but functional equipment. According to independent appraisals, the fair values were $4,500,000, $3,000,000, and $2,500,000 for the building, land, and equipment, respectively. a) Prepare the journal entry for the purchase. SHOW COMPUTATIONS. b) Prepare the journal entry for depreciation on 12/31/22. Kantor uses straight line and 20 years for all depreciable assets. SHOW COMPUTATIONS.