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	$ 520,000
Sale of salvaged parts already on land	20,000
Demolition of the old building	29,000
Ground-breaking ceremony (food and supplies)	2,500
Land preparation and leveling	7,800

What is the total capitalized cost of the land? Multiple Choice

$536,800

$539,300

$556,800

$559,300