Jackson Corporation purchased land that had an old building sitting on it. Jackson decided to tear down the old building and construct a new building. The following were some of the costs they incurred related to the acquisition and construction of the new building. What is the cost of the land? 200.000 20,000 4,000 Purchase price of land and old building Cost to tear down old building Salvage value received for materials related to old building Architect's fees to design new building Attorney's fees at closing Interest paid during construction Title search related to purchase 3,500 600 4,500 200 $223.700 - $220.800 5204.300 $216.800