old buildings on the site and constructing the factory required 6 months. The company paid $10,584 to raze the old buildings and sold salvaged lumber and brick for $1,588. It paid legal fees of $466 for title investigation and drawing up the purchase contract. Sandhill paid $554 to an engineering firm for a land survey, and $17,136 for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. Title insurance on the property cost $378, and a liability insurance premium paid during construction was $227. The contractor's charge for construction was $690,480. The company paid the contractor in two installments: $302,400 at the end of 3 months, and $388,080 upon completion. Interest costs of $42,840 were incurred to finance the construction. Determine the cost of the land and the cost of the building as they should be recorded on the books of Sandhill Co. Assume that the land survey was for the building. Cost of the land $ Cost of the building $