Blossom Farms purchased real estate for $1 , 165 , 000 , which included $6 , 200 in legal fees. It paid $256 , 000 eash and incursed a mortgage payable for the balance. The real estate included land that was appraised at $476 , 700 , a building appraised at 5762,720 and fences and other land improvements appraised at $122 , 580 . The building has an estimated useful life of 60 vears and a $56 , 000 residual value. Land improvements have an estimated 15 -year useful life and no residual value. (a) Calculate the cost that should be allocated to each asset purchased. Land Land Improvements $