20. ABC Inc. purchased land to build an office. In the first quarter, the following amounts were incurred: Acquisition of land Architectural Fee Lawn sprinkler system $144,000 15,000 12,800 Surveys and legal fees 2,100 Land clearing 11,300 Contractor charges for building 157,000 Fencing 8,200 Material and labor cost for building 590,000 1,100 2,900 Install lighting and signage Parking lot What amount should be recorded as the cost of the building in the corporation's books? A) $601,300 B) $782,200 C) $762,000 D) $None of the above