Sherman Inc. uses the calendar year as its reporting period. During Year 1, the company completed numerous property, plant and equipment transactions. In particular, Sherman incurred long-term debt to build a new warehouse storage facility at its current location. An unrelated building contractor managed the new warehouse construction project. Sherman has a policy of capitalizing expenditures with a unit cost of at least $1,000 and a useful life greater than one year. The company prorates depreciation expense in the year of acquisition based on the date of purchase. Use the spreadsheet below to calculate the amount the company should capitalize for each of the listed property, plant and equipment assets, which were purchased or constructed by Sherman during Year 1.

Land for the new warehouse:
Purchase price	325,000
Demolition of the existing structure on property	120,000
Proceeds from the sale of scap from the old buildings on the site	65,000
Costs incurred to grade and pave the driveways and parking lots	40,000
Lawn and garden sprinkler systems for the property	18,500
Legal fees incurred to purchase the property and paid at sttlement	24,000
Capitalized cost of the land	?
Construction of new warehouse:
Construction began March 15 and ended August 31
Borrowings to finanace the construction	265,000
Interest incurred from 3/15 through 8/31	11,000
Interest inccured from 9/1 through 12/31	8,500
Total cost of labor, materials, and overhead to construct the warehouse	305,000
Costs incurred to grade and pace the driveways and parking lots	40,000
Costs to repair the water line ruptured during excavation	8,000
Capitalized cost of the warehouse	?
New Machine:
Cost of the machine	36,000
Sales tax paid on the machine	2,100
Installation costs	3,700
Finance charges on purchase loan	2,900
Capitalized cost of the new machine	?