Math Problems: Able Corporation as a Factory; Ready Construction (Coursework Sample)

Math Problems
Name
Institution
Able Corporation purchased land as a factory site and contracted with Ready Construction to construct a factory. Able made the following expenditures related to the acquisition of the land, building, and machinery to equip the factory:
  Purchase price of the land                                         1,400,000                                   
  Demolition and removal of old building
60,000
  Clearing and grading the land before construction
145,000
  Various closing costs in connection with acquiring the land
32,000
  Architect's fee for the plans for the new building
70,000
  Payments to LuLu for building construction
3,350,000
  Machinery purchased
855,000
  Freight charges on machinery
31,000
  Trees, plants, and other landscaping
47,000
  Installation of a sprinkler system for the landscaping
3,000
  Cost to build special platforms and install wiring for the   machinery
11,000
  Cost of trial runs to ensure proper installation of the machinery
6,000
  Fire and theft insurance on the factory for the first year of use
24,000
 
In addition to the above expenditures, Able purchased four forklifts from Fleet Street. In payment, Able paid $18,000 cash and signed an interest-bearing note requiring the payment of $50,000 at the end of one year. An interest rate of 8% properly reflects the time value of money for this type of loan.
 
Required:
Determine the acquisition costs of each of the assets Able acquired in the above transactions for land, building, machinery, land improvements...