On January $1,$ Mitzu Company pays a lump$-$sum amount of $$2,750,000$ for land, Building $1,$ Building $2,$ and Land Improvements $1.$ Building $1$ has no value and will be demolished. Building $2$ will be an office and is appraised at $$660,000,$ with a useful life of $20$ years and a $$75,000$ salvage value. Land Improvements $1$ is valued at $$420,000$ and is expected to last another $14$ years with no salvage value. The land is valued at $$1,920,000.$ The company also incurs the following additional costs.Cost to demolish Building $1$$ $340,400$Cost of additional land grading$189,400$Cost to construct Building $3,$ having a useful life of $25$ years and a $$398,000$ salvage value $2,282,000$ Cost of new Land Improvements $2,$ having a $20-$year useful life and no salvage value $178,000$ Required:$1.$ Allocate the costs incurred by Mitzu to the appropriate columns and total each column.