Problem $9-8$A PPE costs; partial year's depreciation; alternative methods LO$1,2,3$Logic Co$.$ recently negotiated a lump$-$sum purchase of several assets from a company that was going out of business. The purchase was completed on March $1,2023,$ at a total cash price of $$1,395,000$ and Included a building, land, certain land Improvements, and $15$ vehicles. The estimated market values of the assets were building, $$690,000$; land, $$465,000$; land improvements, $$90,000$; and vehicles, $$255,000.$ The company's fiscal year ends on December $31.$Required:$1.$ Complete the following schedule to allocate the lump$-$sum purchase price to the separate assets that were purchased. Also present the journal entry to record the purchaseMarket ValuePercentage ofTotalApportionedCOStBuildingLandLand improvementsVehiclesTotal$2.$ Calculate the $2023$ depreciation expense on the building using the straight$-$line method to the nearest whole month, assuming a $10-$year life and a $$23,700$ residual valueDepreciation expense$3.$ Calculate the $2023$ depreciation expense on the land Improvements assuming a five$-$year life, $$12,000$ residual, and double$-$declining$-$balance depreciation calculated to the nearest whole month.Depreciation expense