Blossom Chrome Bumpers bought two acres of land with an old office building on it that was deemed unusable. The cost was $489,600 of which Blossom Chrome paid $81,600 in cash as a down payment and signed a 7% mortgage for the remainder. Blossom Chrome immediately had the old building razed at a total cost of $8,830 and sold the salvaged materials for $2,200. Attorneys were paid $1,100 in connection with the purchase. The architect's fee for drawing building plans for the new building cost $6,980. Blossom Chrome paid $3,140 in connection with permits and zoning variances necessary prior to construction of the new building. Blossom Chrome paid the contractor $1,448,400 for construction of the new building, along with $42,840 for a parking lot and necessary walkways and driveways. Answer the following question. (a) At what amount should the land be recorded? Land be recorded $ eTextbook and Media Attempts: 1 of 3 used (b) At what amount should the new office building be recorded? New office building be recorded $