Trisha Company made the following acquisitions during the year:

Purchased for P5,400,000, including appraiser fee of P50,000, a warehouse building and the land on which it is located. The land had an appraised value of P2,000,000 and original cost of P1,400,000. The building had an appraised value of P3,000,000 and original cost of P2,800,000.

Purchased an office building and the land on which it is located for P7,500,000 cash and assumed an existong P2,500,000 mortgage For realty tax purposes, the property is assessed at P9,600,000, 60% of which is allocated to the building.

Acquired a tract of land in exchange for 25,000 shares of Trisha Company with P100 parr value and market price of P120 per share on the date of acquisition. The last property tax bill indicated assessed value of P2,400,000 for the land.

1. What is the total cost of land? a. 9,160,000 b. 8,560,000 c. 9,000,000 d. 8,660,000

2. What is the total cost of building? a. 8,760,000 b. 9,240,000 c. 9,000,000 d. 7,760,000