I need typed solution with explanation. Don't use AI BOT. Explain step by step i will thumb up.

Milloy Furniture purchased? land, paying $65,000 cash and signing a $350,000 note payable. In? addition, Milloy paid delinquent property tax of $3,000?, title insurance costing $1,500?, and $7,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $750,000. It also paid $51,000 for a fence around the? property, $19,000 for a sign near the? entrance, and $8,000 for special lighting of the grounds.

. . . Requirement 1. Determine the cost of the land, land improvements, and building. The cost of the land is $ The total cost of the land improvements is The cost of the building is $ Requirement 2. Which of these assets will Lavallee depreciate? Lavallee will depreciate the building and the land improvements