On March 31, 2020, Capital Investment Advisers paid $4,550,000 for land with two buildings on it. The plan was to demolish Building 1 and build a new store (Building 3) in its place. Building 2 was to be used as a company office and was appraised at a value of $1,307,880. A lighted parking lot near Building 2 had improvements (Land Improvements 1) valued at $560,520. Without considering the buildings or improvements, the tract of land was estimated to have a value of $2,802,600. Capital incurred the following additional costs Cost to demolish Building 1 Cost of additional landscaping Cost to construct new building (Building 3) Cost of new land improvements near Building 2 (Land Improvements 2) Required: 1. Allocate the costs incurred by Capital to the appropriate columns and total each column. $ 697,160 271,020 2,474,000 254,200 Land Building 2 Building 3 Land Land Improvements 1 Improvements 2 Purchase price S 2,730,000 $ 1,274,000 $ 0 $ 546,000 $ 0 Demolition 697.160 0 0 0 0 Landscaping 271.020 10 0 O 0 New building 0 2.474.000 D New improvements 254.200 Totals $ 3.698.180 $ 1,274,000 $ 2.474,000 $ 546,000 $ 254.200