A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building: Purchase price of the land $434,000 Sale of salvaged parts already on the land $ 54,000 Demolition of the old building $ 64,000 Ground-breaking ceremony (food and $ 3,200 supplies) Land preparation and leveling $ 9,200 What amount should be recorded for the purchase of the land? Multiple Choice $507,200. $453,200. $510,400. $456,400.