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	$	440,000
Sale of salvaged parts already on the land	$	60,000
Demolition of the old building	$	70,000
Ground-breaking ceremony (food and supplies)	$	3,500
Land preparation and leveling	$	9,500

What amount should be recorded for the purchase of the land?

a. $519,500

b.$459,500

c. $523,000

d. $463,000