Smith Manufacturing Inc. purchased land as factory site and contracted with Alexis Construction to construct a factory. Smith made the following expenditures related to the acquisition of land, building, and equipment for the factory.

Purchase price of the land$ 1,300,000Demolition and removal of old building 90,000Clearing and grading the land before construction 140,000Various closing costs in connection with acquiring the land 45,000Architect's fee fro the plans for the factory 60,000Payments to Alexis for building construction 3,750,000Equipment purchased 865,000Freight charges on equipment 34,000Trees, plants, and other landscaping 47,000Installation of a sprinkler system for the landscaping 6,400Cost ot build special paltforms and install wiring for the equipment 15,000Cost of trial runs to ensure proper installation of the equipment 6,000Fire and theft insurance on the factory for the first year of use 22,000

Determine the initial valuation of each of the assets Smith acquired in the above transactions.