TebalNipis purchased land as a factory site and contracted with Maksum Construction to construct a factory. TebalNipis made the following expenditures related to the acquisition of the land, building and machinery to equip the factory:

Purchase price of the land	RM1,200,000
Demolition and removal of old building	80,000
Clearing and grading the land before construction	150,000
Various closing costs in connection with acquiring the land	42,000
Architects fee for the plans for the new building	50,000
Payments to Maksum for building construction	3,250,000
Machinery purchased	860,000
Freight charges on machinery	32,000
Trees, plants and other landscaping	45,000
Installation of a sprinkler system for the landscaping	5,000
Costs to build special platforms and install wiring for the machinery	12,000
Cost of trial runs to ensure proper installation of the machinery	7,000
Fire and theft insurance on the factory for the first year of use	24,000

In addition to the above expenditures, TebalNipis purchased four forklifts from Choo & Co. In payment, TebalNipis paid RM16,000cash and signed a noninterest-bearing note requiring the payment of RM70,000 in one year. An interest rate of 7% properly reflects the time value of money for this type of loan.

Required:

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

(Note: Present value of RM1, n=1, i=7%, is 0.93458)