On January 6, Year 1, the Mount Jackson Corporation purchased a tract of land for a factory site for $795,000. An existing building on the site was demolished and the new factory was completed on October 11, Year 1. Additional cost data are shown below: Construction cost of new building Real estate and attorney fees Architect fees Cost of demolish old building Salvage recovery from old building $952,00e 14,000 78, 000 72, 900 (10, 000) Which of the following correctly states the capitalized cost of the (a) land and (b) the new building, respectively? Saved Multiple Choice $871,900 and $1,030,000 $795,000 and $1,106,900 $809,000 and $1,092,900 $881,900 and $1,020,000