Marshall Corporation bought land and a building for $1,012,500. They made the purchase with the intent of using the site for a factory. Marshall tore down the building at a cost of $90,000 and sold scrap from the tear-down for $10,365. Additional costs related to this property include:

• Attorney fees for the title search $ 3,915
• Title insurance cost 2,700
• Architect fees 35,100
• Excavation costs 11,745
• Contractor costs 3,150,000
• Liability insurance during construction 2,925
• Assessment by the city for pavement 191,250

What is the cost of the land?