Capital Construction purchased a 3-acre tract of land for a bulling site for $350,000. The company demolished the old building at a cost of $12,000, but was able to sell scrap from the building for $1,500. The cost of tite insurance was $900 and attorney fees for reviewing the contract was $500. Property taxes paid were $3,000, of which $250 covered the period after the purchase date. The capitalized cost of the land is: $366,400, $366,150 $364,650 $231,150 QUESTION 4 During the first two years, Supplies, Inc, drove the truck 15,000 and 22,000 miles, respectively, to deliver merchandise to its customers: The company originally purchased the truck for $175,000. If the truck has an estimated life of 10 years or 300,000 miles, with an estimated residual value of $25,000, what amount of depreciation expense should Supplies, Inc. record in the second year using the activity-based method? $11,000. $18,500. 5):500