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 $1,050,000 Delinquent tax paid on behalf of the previous owner $19,750 Demolition of the old building Construction of a driveway Sale of salvaged parts already in the old building What amount should be recorded for the purchase of the land? O $1,004,250. $1,068,750. $1,032,500. $1,096,000. $78,750 $3,500 $52,500