Samtech manufacturing purchased land and building for $6 million. in addition to the purchase price, samtech made the following expenditures in connection with the purchase of the land and building: title insurance $ 27,000 legal fees for drawing the contract 5,500 pro-rated property taxes for the period after acquisition 47,000 state transfer fees 5,100 an independent appraisal estimated the fair values of the land and building, if purchased separately, at $3.9 and $2.6 million, respectively. shortly after acquisition, samtech spent $93,000 to construct a parking lot and $51,000 for landscaping.