Merchant Company purchased property for a building site. The costs associated with the property were

Merchant Company purchased property for d bulldlng slte_ The costs assocldted with the property were Purchase price Real estate commissions Legal fees Expenses of clearing the land Expenses to remove old building $185,000 15,000 700 2,000 4,000 What pomon of these costs should be allocated to the cost of the land and what pomon should be allocated to the cost of the new bulldlng? O $200,000 to Land; $6,700 to Building. O $187,700 to Land; $19,000 to Building. O $206,700 to Land; soto Building. O $185,OOOto Land; $21,700to Building. O $200,700 to Land; $6,000 to Building.