Required information The following information applies to the questions displayed below) On January 1, Mitzu Company pays a lump-sum amount of $2,650,000 for land, Building 1. Building 2 and Land Improvements 1. Bullding 1 has no value and will be demolished. Building 2 will be an office and is appraised at $762,500, with a useful life of 20 years and a $90,000 salvage value. Land Improvements 1 is valued at $457,500 and is expected to last another 15 years with no salvage value. The land is valued at $1.830,000. The company also incurs the following additional costs Cost to demolish Building 1 $ 344,400 cost of additional land grading 187,400 Cost to construct Building 3, havine a useful life of 25 years and a $400,000 salvage value 2,242,890 cost of new and Teprovements 2. having a 20-year useful life and no salvage value 173, eee Appraised Value Allocation of Purchase Price Percent of Total Appraised Value Total cost of acquisition m Apportioned Cost X X Land Building 2 Land Improvements 1 Totals X $ 0% S Land Building 2 Building 3 Land Improvements 1 Land Improvements 2 Purchase Price Demolition Land grading New building (Construction cost) New improvements Totals S 0 S 0 S 0 s 0 $ 0