Swifty supply company, a newly formed corporation, incurred the following expenditures related to land, to buildings, and to machinery and equipment. abstract company’s fee for title search $624 architect’s fees 3,804 cash paid for land and dilapidated building thereon 104,400 removal of old building $24,000 less: salvage 6,600 17,400 interest on short-term loans during construction 8,880 excavation before construction for basement 22,800 machinery purchased (subject to 2% cash discount, which was not taken) 66,000 freight on machinery purchased 1,608 storage charges on machinery, necessitated by non completion of building when machinery was delivered 2,616 new building constructed (building construction took 6 months from date of purchase of land and old building) 582,000 assessment by city for drainage project 1,920 hauling charges for delivery of machinery from storage to new building 744 installation of machinery 2,400 trees, shrubs, and other landscaping after completion of building (permanent in nature) 6,480 determine the amounts that should be debited to land, to buildings, and to machinery and equipment. assume the benefits of capitalizing interest during construction exceed the cost of implementation. company uses net method to record discount.