Required information [The following information applies to the questions displayed below] On January 1, Mitzu Company pay6 a lump-sum amount of $2,600,000 for land, Bullding 1, Buliding 2, and Land Improvements 1. Building 1 has na value and will be demolished. Building 2 will be an office and is appraised at $796,500, with a useful life of 20 years and a $80,000 salvage value. Land Improvements 1 is valued at $295,000 and is expected to last another 10 years with no salvage value. The land is valued at $1,858,500. The company also incurs the following additional costs. Cost to demolish Buitding 1 Cost of additional land grading Cost to construct Buttding 3, having a useful 2 ife of 25 years and a $398,000 salvage value cost of new Land Inprovenents 2, having a 20 -year useful life and no salvage value 5 340,400 193,400 2,202,000 173,000 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column