Baker Communications purchased land, a building, and several pieces of equipment for $ 5,600,000. An appraisal of

Question:

Baker Communications purchased land, a building, and several pieces of equipment for $ 5,600,000. An appraisal of the purchased items estimated the value of the land at $ 3,100,000, the building at $ 1,850,000, and the equipment at $ 650,500. Determine the portion of the total purchase price applicable to each asset.