Plant Assets, Natural Resource >Exercises Learni E9-17 Determining the cost of assets on Furniture purchased land, paying $65,000 cash and signing a $250,000 note Laws n addition, Lawson paid delinquent property tax of $5,000, title insurance and $9,000 to level the land and remove an unwanted building. 1. Land e company then constructed an office building at a cost of $400,000. It also paid s54,000 for a fence around the property, $12,000 for a sign near the entrance, and $8,000 for special lighting of the grounds. Requirements 1. Determine the cost of the land, land improvements, and building 2. Which of these assets will Lawson depreciate