Pharoah Farms purchased real estate for $$1,170,000,$ which included $$4,100$ in legal fees. It paid $$244,000$ cash and incurred a mortgage payable for the balance. The real estate included land that was appraised at $$477,400,$ a building appraised at $$750,200,$ and fences and other land improvements appraised at $$136,400.$ The building has an estimated useful life of $60$ years and a $$51,000$ residual value. Land improvements have an estimated $15-$year useful life and no residual value.