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On January $1,$ Mitzu Company pays a lump$-$sum amount of $$2,800,000$ for land, Building $1,$ Building $2,$ and Land Improvements $1.$ Building $1$ has no value and will be demolished. Building $2$ will be an office and is appraised at $$610,000,$ with a useful life of $20$ years and a $$90,000$ salvage value. Land Improvements $1$ is valued at $$518,500$ and is expected to last another $17$ years with no salvage value. The land is valued at $$1,921,500.$ The company also incurs the following additional costs.

$\backslash$table$[[$Cost to demolish Building $1,$$$346,400$