1. Dirks Distributors acquired some land for the purpose of building a new warehouse for its large equipment. The following costs related to these plant assets were incurred in in 20Y3. What value should Crown record for the new building?

   • Land purchase price - $200,000
   • Real estate brokers commission on the sale of the land - $6,000
   • Land title transfer fees - $1,000
   • Cost to remove an old building that existed on the land - $15,000
   • Construction costs related to the new building - $380,000
   • Installation of a sprinkler system around the new building - $10,000
   • Installation of a parking lot in front of the new building - $30,000

   		$321,000
   		$395,000
   		$380,000
   		$405,000