Required information Problem 8-3A (Algo) Asset cost allocation; straight-line depreciation LO C1, P1 [The following information applies to the questions displayed below] On January 1, Mitzu Company pays a lump-sum amount of $2,750,000 for land, Building 1, Building 2, and Land Improvements 1 . Buliding 1 has no value and will be demolished. Building 2 will be an office and is appraised at $579,500, with a useful life of 20 years and a $80,000 salvage value. Land improvements 1 is valued at $579,500 and is expected to last another 19 years with no salvage value. The land is valued at $1,891,000. The company also incurs the following additional costs. Problem 8-3A (Algo) Part 1 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column