On January 1, Mitzu Company pays a lump-sum amount of $2,600,000 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 $531,000, with a useful life of 20 years and a $75,000 salvage value. Land Improvements 1 is valued at $560,500 and is expected to fast another 19 years with no salvage value. The land is valued at $1,858,500. 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 uneful life of 25 years and a $398,000 salvage value cost of new Land Improvements 2, having a 20-year useful life and no salvage value $ 343,400 189,400 2,302,000 168,000 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column Allocation of Purchase Price Appraised Value Percent of Total Appraised Value Total cost of acquisition Apportioned Cost X Land Building 2 Land improvements 1 Totals $ 0 0% $ Land Building 2 Bullding 3 Land Improvements 1 Land Improvements 2 Purchase Price Demolition Land grading New building (Construction cost) New improvements Totals S 0 $ 0 $ 0 $ 0 $