Question 1 0.5 pts You purchase land for $100,000, pay $3,000 to a real estate agent, $1,000 in one time taxes, and $4,000 to put up fencing. The amount you can capitalize under Land is: $104,000 $108,000 $103,000 $100,000 Question 2 0.5 pts You purchase a building for $2,500,000, pay legal fees of $100,000, and pay back taxes of $50,000. You immediately occupy the building and pay $500,000 for renovations. The amount you can capitalize as part of the building is: $2,650,000 $2,600,000 o $3,150,000 $2,500,000