Ocampo SA purchased for €2,200,000 property that included both land and a building to be used in operations. The seller's book value was €300,000 for the land and €900,000 for the building. By appraisal, the fair value was estimated to be €500,000 for the land and €2,000,000 for the building. At what amount should Ocampo record the land and the building?