ANSWER THE FOLLOWING BASED ON INSTRUCTIONS EACH QUESTION CARRIES 3 MARKS INDICATE STEP WISE CALCULATIONS 1. a.You paid $360,000 cash to acquire a group of items consisting of land appraised at $120,000, land improvements appraised at $40,000, and a building appraised at $240,000. The $360,000 cost will be allocated on the basis of appraised values indicate both apportioned cost as well as appraised values in the tabular format. Ans: Follow the tabular format to represent both the values b. A company purchased a special purpose machine on August 1 of the past year, and it was installed and ready to run on January 1 of this year. The following costs were incurred in the purchase and installation of the machine