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Samtech Manufacturing purchased land and a bullding for $4 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: An independent appraisal estimated the fair values of the land and buliding, if purchased separately, at $3.2 and $1.8 million. respectively. Shortly after acquisition, Samtech spent $92,000 to construct a parking lot and $50,000 for landscaping. Requlred: 1. Determine the intial valuation of each asset Samtech acquired in these transactions: 2. Determine the intial valuation of each asset. assuming that immediately after acquisition. Samtech demolished the buliding Demolition costs were $350,000 and the salvaged materiais were sold for $6.000 in addition, Samtech spent $89,000 clearing and grading the land in preparation for the construction of a new buliding. Complete this question by entering your answers in the tabs below. Determine the initial valuation of each ssset samtech acquiced in these transactions. Notes Enter your anawers in sollars not in multienc of dollars. Samtech Manufacturing purchased land and a buliding for $4 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and butiding: An independent appraisai estimated the falr values of the land and bulling, if purchased separately, at $3.2 and $1.8 million, respectively. Shortly after acquisition, Samtech spent $92.000 to construct a parking lot and $50,000 for landscaping. Requlred: 1. Determine the inital valuation of each asset Samtech acquired in these transactions. 2. Determine the initial valuation of each asset, assuming that immediately after acquisition. Samtech demolished the bulling. Demolition costs were $350.000 and the salvaged materials were soid for $6.000. In addition. Samtech 5pent$89.000 clearing and grading the land in preparation for the construction of a new building. Complete this question by entering your answers in the tabs below. Demolition conti were $350,000 and the salvaged materials were sold for 56,000 . In addition, Samtech apent 589,000 clearing and grading the land in preparstion for the construction of a new building. Notes Enter your answers in doliars pot in m lions of dolats