Zeidler Company bought a building and the land on which the building is located for a total cash price of $185,500. The company paid transfer costs of $3,500. Renovation costs on the building were $27,750. An independent appraiser provided market values for the land, $260,000, and building, $780,000 before renovation Required: 1. Apportion the cost of the property on the basis of the appraised values. (Input all amounts as positive values.) Item Apportioned cost Purchase cost Renovation cost $ 27,750 Building Land 0 0