Crane Chrome Bumpers bought two acres of land with an old office building on it that was deemed unusable. The cost was $393,600 of which Crane Chrome paid $65,600 in cash as a down payment and signed a 7% mortgage for the remainder. Crane Chrome immediately had the old building razed at a total cost of $7,130 and sold the salvaged materials for $1,800. Attorneys were paid $900 in connection with the purchase. The architect's fee for drawing building plans for the new building cost $5,580. Crane Chrome paid $2,540 in connection with permits and zoning variances necessary prior to construction of the new building. Crane Chrome paid the contractor $1,164,400 for construction of the new building, along with $34,440 for a parking lot and necessary walkways and driveways. Answer the following question. (a) X Your answer is incorrect. At what amount should the land be recorded? tA Land be recorded $ 442600

Crane Chrome Bumpers bought two acres of land with an old office building on it that was deemed unusable. The cost was $393,600 of which Crane Chrome paid $65,600 in cash as a down payment and signed a 7% mortgage for the remainder. Crane Chrome immediately had the old building razed at a total cost of $7,130 and sold the salvaged materials for $1,800, Attorneys were paid $900 in connection with the purchase. The architect's fee for drawing building plans for the new building cost \$5.580. Crane Chrome paid $2.540 in connection with permits and zoning variances necessary prior to construction of the new building. Crane Chrome paid the contractor $1,164,400 for construction of the new building, along with $34,440 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