Please help with this question!

Required information [The following information applies to the questions displayed below] Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $840,000. The estimated market values of the purchased assets are building. $533.500; land, $329.800; land improvements, $67,900; and four vehicles, $38,800. Required: 1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1.b. Prepare the journal entry to record the purchase. 2. Compute the first-year depreciation expense on the bulding using the straight-line method, assuming a 15-year life and a $30,000 salvage value. 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-decining-balance depreciation. Allocate the lump-sum purchase price to the separate assets purchased