XYZ Corporation purchased the following assets during the year. Assist XYZ Corporation by determining the cost of each asset. Land Costs: Purchase price Surveying fees Title insurance Excavating fees necessary to pass safety inspection $119,520 3,550 1,270 10,250 Building Costs: Purchase price Title fees Legal fees Realty fees Interest charges from the first year of the mortgage Renovation and repair to make the building usable $425,000 7,270 520 14,560 12,400 11,600 Equipment Costs: Purchase price Installation costs Shipping charges Taxes Maintenance and repair costs incurred in the first year $21,000 1,200 500 2,300 3,500 Calculate the acquisition cost that should be reported on the balance sheet for the: 1. Land 2. Building 3. Equipment