Credit Company incurred the following costs in acquiring plant assets:
purchased land for a $50,000 down payment and signed a $100,000 note payable for the balance
delinquent property tax of $2,500 and legal fees of $1,500
$5,000 to remove an unwanted building
architect fee of $2,000 for the design of a building
constructed an office building at a cost of $500,000
interest cost on construction loan for the building, $20,000
$7,500 for fencing, $4,000 for landscaping, and $5,000 for lighting
Determine the cost of the land, land improvements, and building.