Samtech Manufacturing purchased land and a bulding for $4 mallion. In addition to the purchase price. Samtech made the following expenditures in connection with the purchase of the land and buliding: An independent appraisal estimated the fair values of the land and building. if purchased separately, at $3.3 and $1.1 million, respectively. Shortly after acquisition, Samtech spent $82,000 to construct a parking lot and $40,000 for landscaping Required: 1. Determine the initial valuation of each asset Sarntech acquired in these transactions 2. Determine the initial valuation of each asset, assuming that immediately after acquisition. Samtech demolished the buiding. Demoition costs were $250,000 and the salvaged materials were sold for $6,000. In addition, Samtech spent $86,000 cleating and grading the land in preparation for the construction of a new buliding: Complete this question by entering your answers in the fabs below. Determine the initial valuation of each assot samtech acquired in these transactions