On January 1, 2020, Henry Lighter Company purchased McHenry Company at the price shown. The market values of the assets purchased are given.

Allocate the purchase price among the assets purchased for each separate purchase below

Assets Purchased Market Value Purchase Price 1 Purchase Price 2

Land 2,700,000 8,000,000 11000,000

Building 4,050,000

Equipment 1,800,000

Vehicles 450,000

Goodwill

Total 9,000,000