(Solved): Current Attempt in Progress acquire the site. Prior to providing financing for the purchase, the ba ...

Current Attempt in Progress acquire the site. Prior to providing financing for the purchase, the bank required that an aporaisal be completed of the property. The evaluation appraisal report came back with the following estimated market values: iand $\$3,436,950$, building $\$2,562,090$, and iand improvements $\$249,960$. Cullumber marnagement explained, to the bank's satisfaction, that it paid the $\$251,000$ premium beciuse of the property's proximily to the city centre and access to a large population base from which to draw students. (s1) Allocate the $\$6.50$-miltion purchaseprkelo the iand. buitdine and land fmprovements.