On January 6. Year 1, the Mount Jackson Corporation purchased a tract of land for a factory site for $765.000. 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 $904,000 9,800 72,000 68,700 (7,000) Which of the following correctly states the capitalized cost of the (e) land and (b) the new building, respectively? Multiple Choice