During 2020, Burr Co. made the following expenditures related to the acquisition of land and the construction of a building Purchase price of land S60,000 Legal fees for contracts to purchase land 2.000 Architects' fees 8.000 Demolition of old building on site 5,000 Sale of scrap from old building 3,000 Construction cost of new building (fully completed) 350,000 What amounts should be recorded as the initial values of the land and the building? Land Building Option A $60,000 $360,000 Option B $62,000 $360,000 Option C S64,000 $358,000 Option D $65,000 $362,000 Option Option B Option A Option D