Samtech Manufacturing purchased land and a bullding for $$3$ million. In addition to the purchase price, Samtech made the following

expenditures in connection with the purchase of the land and bullding:Legal fees for drawing the contract $9,500$

Pro$-$rated property taxes for the period after acquisition $55,000$

State transfer fees $5,900$An Independent appralsal estimated the falr values of the land and bullding, If purchased separately, at $$3\mathrm{.}6$ and $$1\mathrm{.}2$ million,

respectlvely. Shortly after acquisition, Samtech spent $$101,000$ to construct a parking lot and $$59,000$ for landscaping.

Required:

Determine the initial valuation of each asset Samtech acquired in these transactions.

Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the bullding.

Demolition costs were $$440,000$ and the salvaged materlals were sold for $$7,000.$ In addition, Samtech spent $$98,000$ clearing

and grading the land in preparation for the construction of a new bullding.

Complete this question by entering your answers in the tabs below.

Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building.

Demolition costs were $$440,000$ and the salvaged materials were sold for $$7,000.$ In addition, Samtech spent $$98,000$

clearing and grading the land in preparation for the construction of a new building.

Note: Enter your answers in dollars not in millions of dollars.Samtech Manufacturing purchased land and a bullding for $$3$ million. In addition to the purchase price, Samtech made the following

expenditures in connection with the purchase of the land and bullding:Legal fees for drawing the contract $9,500$

Pro$-$rated property taxes for the period after acquisition $55,00$

State transfer fees $5,900$An Independent appralsal estimated the falr values of the land and bullding, If purchased separately, at $$3\mathrm{.}6$ and $$1\mathrm{.}2$ million,

respectively. Shortly after acquisition, Samtech spent $$101,000$ to construct a parking lot and $$59,000$ for landscaping.

Required:

Determine the initial valuation of each asset Samtech acquired in these transactions.

Determine the initial valuation of each asset, assuming that Immediately after acquisition, Samtech demolished the bullding.

Demolition costs were $$440,000$ and the salvaged materlals were sold for $$7,000.$ In addition, Samtech spent $$98,000$ clearing

and grading the land in preparation for the construction of a new bullding.

Complete this question by entering your answers in the tabs below.

Determine the initial valuation of each asset Samtech acquired in these transactions.

Note: Enter your answers in dollars not in millions of dollars.