On January 1, 2020, Paubaya Company disclosed the following balances: Land 4,000,000 Land improvements 1,300,000 Buildings 20,000,000 Machinery and equipment 8,000,000 During the current year, the following transactions occurred: A tract of land was acquired for P2,000,000 cash as a building site. A plant facility consisting of land and building was acquired in exchange for 200,000 shares of the entity. On the acquisition date, each share had a quoted price of P45 on a stock exchange. The plant facility was carried on the seller's books at P1,600,000 for land and P5,400,000 for the building at the exchange date. Current appraised values for the land and the building, respectively, are P2,000,000 and P8,000,000. The building has an expected life of forty years with a P200,000 residual value. Items of machinery and equipment were purchased at a total cost of P4,000,000. Additional costs incurred were freight and unloading of P100,000 and installation of P300,000. The equipment has a useful life of ten years with no residual value. Expenditures totaling P1,200,000 were made for the new parking lot, street, and sidewalk at the entity's various plant locations. These expenditures had an estimated useful life of fifteen years. Research and development costs were P1,100,000 for the year. A machine costing P200,000 on January 1, 2013, was scrapped on June 30, 2020. Straight line depreciation had been recorded on the basis of a 10-year life with no residual value. A machine was sold for P500,000 on July 1, 2020. The original cost of the machine sold was P700,000 on January 1, 2017, and it was depreciated on a straight-line basis over an estimated useful life of eight years and a residual value of P50,000. 1. What is the total cost of land on December 31, 2020? 2. Using the information from Paubaya Company, what is the total cost of land improvements on December 31, 2020? 3. Using the information from Paubaya Company, what is the total cost of buildings on December 31, 2020? 4. Using the information from Paubaya Company, what is the total cost of machinery and equipment on December 31, 2020?