Required information Problem 8-3A (Algo) Asset cost allocation; straight-line depreciation LO C1, P1 [The following information applies to the questions displaycd bolow] On January 1, Mitzu Company pays a lump-sum amount of $2.600,000 for iand, Building 1, Building 2, and Land Improvements 1. Bulliding 1 has no value and will be demolished. Bullding 2 will be an office and is appraised at $750,000, with a useful life of 20 years and a $70,000 salvage value. Land improvements 1 is valued at $480,000 and is expected to last another 16 yeas with no salvage value. The land is valued at $1,770,000. The company also incurs the following additional costs. Cost to dealish blding is Coet bf additional- Iand grading 5.34,400 169,400 2,202,000 130,000 Problem 8-3A (Algo) Part 1 Required: 1. Allocete the costs incurred by Mazu to the appropriate columns and total eech column. Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column