Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $2,600,000. According to independent appraisals, the fair values were $1,080,000 (building A) and $675,000 (building B) for the buildings and $945,000 for the land. Required: Determine the initial valuation of the buildings and the land. Asset Initial Valuation. Building A Building B Land Total $