The company paid $500,000 to buy a collection of assets. The assets had the following appraised values:

Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $120,000
Building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000

Compute the cost to be allocated to each asset.