On March 31, 2023, Capital Investment Advisers paid $4,560,000 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 $1,401,600. A lighted parking lot near Building 2 had improvements (Land Improvements 1) valued at $560,640. Without considering the buildings or improvements, the tract of land was estimated to have a value of $2,709,760. 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. Land $ 700,160 271,520 3,238,400 254,400 Land Land Building 2 Building 3 Improvements 1 Improvements 2 Purchase price $ 2,709,760 Demolition 700,160 Landscaping New building 3,238,400 New improvements Totals 560,640 254,400 $ 2,709,760 $ 0 $ 3,938,560 $ 560,640 $ 254,400