Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of tho land and building: An independent appraisal estimated the fair values of the land and building, if purchased separately, at S3.3 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 in-tial valuation of each asset Samtech acquired in these transactions (Enter your answers In whole dollars.) 2 Determine the initial valuation of each asset, assuming that immecately aftur acquis. Hon. Sarrtecn demonished the building Demolition costs were $250,000 and tie salwK^KJ materia.vere sold to-$6,000 in Motion Samtech spent $86,000 cleaning a -Ml grading tie land m tvecarat.on tor the construction of a now buffeting (Enter your answers in whole dollars.)