On January 6, 2014, the Eldorado Corporation purchased a tract of land for a factory site for $580,000. An existing building on the site was demolished and the new factory completed on October 11, 2014. Additional cost data are shown below: Which of the following correctly states the cost that should be recorded for (a) the land and (b) the new building? $593, 350/$970, 750 $604, 100/$960,000 $581, 700/$982, 400 $593, 350/$971.050