On January $1,$ Mitzu Company pays a lump$-$sum amount of $$2,800,000$ for land, Building $1,$ Building $2,$ and Land Improvements $1.$ Building $1$ has no value and will be demolished. Building $2$ will be an office and is appraised at $$720,000,$ with a useful life of $20$ years and a $$70,000$ salvage value. Land Improvements $1$ is valued at $$450,000$ and is expected to last another $15$ years with no salvage value. The land is valued at $$1,830,000.$ The company also incurs the following additional costs.

Cost to demolish Building $1$

Cost of additional land grading

Cost to construct Building $3,$ having a useful life of $25$ years and a $$398,000$ salvage value

$191,400$

$2,282,000$

Cost of new Land Improvements $2,$ having a $20-$year useful life and no salvage value

$168,000$

Required:

Allocate the costs incurred by Mitzu to the appropriate columns and total each column.

$\backslash$table$[[$Allocation of Purchase Price,$\backslash$table$[[$Appraised$],[$Value$]],\backslash$table$[[$Percent of$],[$Total$],[$Appraised$],[$Value$]],x,\backslash$table$[[$Total cost of$],[$acquisition$]],=,$Apportioned Cost$],[$Land$,,,,,=,,],[$Building $2,,,,,=,,],[$Land Improvements $1,,,x,,=,,],[$Totals$,$$$,0\%,,,,$$$,0],[,$Land,Building $2,,$Building $3,,\backslash$table$[[$Land$],[$Improvements $1]],\backslash$table$[[$Land$],[$Improvements $2]]],[$Purchase Price,,,,,,,$],[$Demolition$,,,,,,,],[$Land grading,,,,,,,$],[$New building $($Construction cost$),,,,,,,],[$New improvements,,,,,,,$],[$Totals$,$$$,$$$,0,$$$,0,$$$,$$