A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office bullding 1:02 Purchase price of the land Sale of salvaged parts already on land Demolition of the old building Ground-breaking ceremony (food and supplies) Land preparation and leveling $540,000 $ 21,000 $ 26,000 $2,500 $ 8,400 What amount should be recorded for the purchase of the land? Multiple Choice 40 11 2 &