3&9 Saved On January 6, 2016, the Mount Jackson Corporation purchased a tract of land for a factory site for $810,000. An existing building on the site was demolished and the new factory was completed on October 11, 2016. Additional cost data are shown below: $976,000 Construction cost or new building Real estate and attorney fees Architect fees Cost to demolish old building Salvage recovery from old building 16,100 81,000 75,000 (11,500) Which of the following correctly states the capitalized cost of the (a) land and (b) the new building? building? Multiple Choice $810,000/$1,136,600 $826,100/$1,120,500 $901,100/$1,045,500 $889,600/$1,057,000