Cowboy Development incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building: Sale price of the land Sale of salvaged parts already on land Demolition of the old building Ground breaking ceremony (food and supplies) Land preparation and leveling $530,000 $23,000 $32,000 $1,700 $7,400 What amount should be recorded for the purchase of the land? O $548100 O $569.400 O $546.40o O $571100