AB recently purchased an old building and the land on which it is located. The old building will be demolished at a net cost of $10,000. A new bullding will be bulit on the site. The demolition cost should be: Multiple Choice capitalized as part of the cost of the land. capitalized as part of the cost of the new building depreciated over the remaining lfo of the old bulding. written off as an extroordinary loss in the year of demolition