Your answer is correct.

Blossom Co$.$ purchased for $$2,728,000$ property that included both land and a building to be used in operations. The seller

value was $$372,000$ for the land and $$1,116,000$ for the building. By appraisal, the fair value was estimated to be $$620,000$ for the

land and $$2,480,000$ for the building. At what amount should Blossom report the land and the building at the end of the year? $($Do not

round intermediate calculations and final answers to $0$ decimal places e$.$g$.58,971.)$

Cost allocated to land

Cost allocated to building