Martin Company is constructing a building Construction began on January 1 and was completed on December 31. Expenditures were $4,800,000 on March 1, $3,960,000 on June 1, and $5,000,000 on December 31. Martin Company borrowed $2,400,000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $4,800,000 note payable and an 11%, 4-year, 39,000,000 note payable. What is the actual interest incurred for Martin Company? Select one: O a $1,758,000 O b. $1,782,000 O $1,470,000 Od $704 415 On December 1, Year 1, Martin Co. purchased a tract of land as a factory site for $750,000. The old building on the property was razed, and salvaged materials resulting from demolition were sold. Additional costs incurred and salvage proceeds realized during December Year 1 were as follows: 13 ston Cost to raze old building Legal fees for purchase contact and to record ownership Tide guarantee insurance Proceeds from sale of salvaged materials $70,000 10,000 16,000 3,000 in Martin's December 31, Year 1 balance sheet, what amount should be reported as land? Select one a $776,000 812,000 C$830,000 d. 146.000