Wonder Mountain Company operates a snow sports resort for skiers and snowboarders. The company has recently decided to replace an existing old chair lift with a new high-speed quad chair and expand the hill to allow for increased capacity. The chair lift was a $834,000 asset on the books, 90% depreciated. The work was completed from April to November. Wonder Mountain incurred the following costs for the expansion: Invoice price high-speed quad chair lift Costs to dismantle old chair lift Shipping costs for delivery $1,718,000 36,200 Cash received for sale used chair lift 171,800 20,200 Landscape architect fees, grading expansion hill Permit costs 7,950 5,350 Clearing trees/grading land for expansion 47,500 Installation of concrete bases for chair lift 102,500 Helicopter rental to install towers for chair lift Labour installation ski lift. 90,000 300,000 Training employees on maintenance and operation 9,250 Testing of chair lift Interest costs on loan for construction General overhead costs Annual routine maintenance Purchase tools required for annual maintenance 29,500 67,500 33,500 49,000 83,500 s Required: Calculate the total cost for each asset: a. Land b. Ski lift c. Tools Total cost