Bilbi Co. purchased land as a factory site for $1,350,000. Wilson paid $120,000 to tear down two buildings on the land. Salvage was sold for 58,100. Legal fees of S5,220 were paid for title investigation and making the purchase. Architect's fees were $46,800. Title insurance costs $3,600, and liability insurance during construction costs $3,900. Excavation cost $15,660. The contractor was paid $4,200,000. An assessment made by the city for pavement was $9,600. Interest costs during construction were $255.000. The cost of the land that should be recorded by Bilbi Co. is S