Question 1 Caramel Apartments incurred the following costs to acquire land, make land improvements and construct and furnish an apartment building. a) Purchase price of 3 acres of land $150,000 b) Delinquent real estate taxes on the land to be paid by Caramel 3,700 c) Demolition & removal of old structure on property 6,100 d) Fence around the boundary of the property 44,200 e) Building permit for the apartment building 200 1) Architect's fee for the design of the building 32,000 g) Signs near the approaches to the property 20,900 h) Materials used to construct the building 814,000 i) Labour to construct the building 734,000 j) Interest cost on construction loan for the building 3,400 k) Parking lots & concrete walkways on the property 17,500 D) Lights for the parking lots & walkways 8,900 m) Salary of construction supervisor (90% to building; 10% to parking lots & concrete 55,000 Walkways n) Furniture 123,500 0) Transportation of furniture from seller to building 1,100 p) Landscaping (trees & shrubs) 9,000 Determine the total cost of each asset