On February 1, 20x1, Jamison Corporation purchased a parcel of land as a factory site for $280,000. An old building on the property was demolished, and construction began on a new building which was completed on November 1, 20X1. Costs incurred during this period are listed below: S Demolition of old building 20,000 Architect's fees 35.000 Legal fees for title investigation and purchase contract 5,000 Construction costs 1340,000 (Salvaged materials resulting from demolition were sold for $10,000) Jamison should record the cost of the land and new building, respectively, as O $305,000 and $1,365,000. $290,000 and $1,375,000. $295,000 and $1,375,000 $290,000 and $1,380,000