Pierce Systems purchased land, paying $90,000 cash as a down payment and signing a $260,000 note payable for the balance. In addition, Plerce Systems paid delinquent property tax of $2,500, title insurance costing $5,500, and a $12,100 charge for leveling the land and removing an unwanted building. The company constructed an office building on the land at a cost of $750,000. It also paid $55,000 for a fence around the property, $9,000 for the company sign near the entrano and $10,000 for special lighting of the grounds 1. Determine the cost of the company's land, land improvements, and building. 2. Which of the assets will Pierce depreciate? Requirement 1. Determine the cost of the company's land, land The cost of the land is $ The cost of the building is $ Requirement 2. Which of the assets will Pierce depreciate? Enter any number in the edit fields and then continue to the next