Required information The following information applies to the questions displayed below! On January 1, Mr Company pays a lump sum amount of $2,750,000 for land, Buliding Building 2 and Land Improvements 1 Building 1 has no value and will be demolished. Building 2 will be an office and is appraised ot 5796,500 with a useful life of 20 years and a $70,000 salvage value Land improvements is veled at $265.500 and is expected to last another 9 years with no salvage volue. The land is valued at $1888,000. The company to incuts the following additional costs Cost to demolish Building 1 Cost of additional Landgrading Cost to construct bulding), having a useful life of 3 years and $400,000 salavalt Cast of new Land Improvements 2. having 20-year useful life and no salvace value $ 30, 157,400 2,222,000 173,000 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total ench column Allocation of purchase Price Appraised Value Answer is not complete. Percent of Total Total cost of Appraised accion Value 2503 2.730.000 Aproned Cost Iland 16000