Rainbow Logistics Purchased Land with the Intention of Building an Office

Rainbow Logistics purchased land with the intention of building an office. Rainbow also engaged other contractors for fencing, paving, lighting, landscaping, and to remove a dilapidated building to make room for new office building. The following information relates to these transactions:
- Purchased land for $ 350,000.
- Paid $ 4,000 for seller's back property taxes.
- Paid $ 22,000 to have the dilapidated building removed.
- Paid a builder $ 400,000 to design and build the office building.
- Paid an excavation company $ 20,000 to grade and clear the land to make it suitable for building purposes.
- Paid a landscaping company $ 10,000 for trees and shrubs.
- Paid a contractor $ 16,000 for outside lighting around the parking area and sidewalks.
- Paid $ 26,000 to have the parking lot paved.
- Paid a fence builder $ 15,000 to construct a security fence around the property.
Instructions
Determine the cost of the land, the building, and the land improvements.