Pierce Furniture purchased land, paying $95,000 cash and signing a $300,000 note payable. In addition, Pierce paid delinquent property tax of $3,500, title insurance costing $2,000, and $9,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $650,000. It also paid $49,000 for a fence around the property, $10,000 for a sign near the entrance, and $6,000 for special lighting of the grounds. Read the requirements. Requirements 1. Determine the cost of the land, land improvements, and building. 2. Which of these assets will Pierce depreciate