4 points 1. Apple Co purchased land and building for $300. An appraisal indicated the land had a fair value of $250 and the building value was $50. The property was purchased for the site of a new factory and the building on the property was immediately demolished. Additional amounts related to the land and new factory are listed below. Legal fees for land title investigation $2 Costs for demolition of old building 30 Salvage value received from the sale of the old building materials 7 Architect's fees for the new factory 25 Construction costs for the new factory 1600 Installation of parking lots 26 Based on the above, what amount should appear in the land account? 250 Purchase parking lots Construction Costs legal fees 7.000 2 1277