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Required information [The following information applies to the questions displayed below.] On...

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Accounting

Required information
[The following information applies to the questions displayed below.]
On January 1, Mitzu Company pays a lump-sum amount of $2,800,000 for land, Building 1, Building 2, and Land Improvements 1. Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at $610,000, with a useful life of 20 years and a $90,000 salvage value. Land Improvements 1 is valued at $518,500 and is expected to last another 17 years with no salvage value. The land is valued at $1,921,500. The company also incurs the following additional costs.
\table[[Cost to demolish Building 1,$346,400
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