Analyzing Acquisition Costs During the current year. Castle Corp. compieted construction of its new corporate headquarters. Castle purchased land with an old building for sizs, 000 . The land aas walued at sztro00 and the building at $15,000. Castle demolished the building Additional expenditures on the project follow. 1. Interest of $44,100 on construction financing incurred atter completion of construction of the headquarters bulidirg- 2. Cost of $1,080,000 for construction of the new building. 3. Interest of $55,800 (lesser of actual and avoidable interest) an construction financing paid during coristrixction of the headquarters builing. 4. Payment of 55,550 for delinquent real estate taxes assumed by Castie upon purchase of the land and building: 5. Liability insurance premlum of $3,600 covering the construction period. 6. Cost of $19,500 for razing the existing building 7. Costs of 540,800 to move into the new headquarters. 8. Purchase of office equipment for 530,000 , terms 2110,n/30. Payment was made within 10 days and the company records purchases net of 6160unt Compute (d) total expense for the current year, If any, to be recognized from the sbove expenditures. Recording a Lump-Sum Acquisition Eaton inc. purchases the following used items at an auction for $38,000 cash: a drill press, a lathe, and an air compressor, The equament is in exceilent condecon excegt for the moter an the un compressor, 523,100. Prepare the entry to record (a) acquisntion of the equipment and (b) replacement of the motar. Note: Do not round rates in your calculationsi round your final answers to the neareat whole nurnber