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Determine the percentage allocation for appraised value

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Question - In January 2017, Mitzu Co. pays $2,700,000 for a tract of land with two buildings on it. It plans to demolish Building 1 and build a new store in its place. Building 2 will be a company office; it is appraised at $570,000, with a useful life of 20 years and a $80,000 salvage value. A lighted parking lot near Building 1 has improvements (Land Improvements 1) valued at $660,0000 that are expected to last another 22 years with no salvage value. Without the buildings and improvements, the tract of land is valued at $1,770,000. How do you determine the percentage allocation for appraised value?

Reference no: EM132731101

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