On June 2, 2022, Hilton Corporation purchased a parcel of land as a factory site for $ 125,000.  It demolished an old building on the property and began construction on a new building that was completed on November 10, 2022.  Costs incurred during the period are:

• Demolition of old building                      $ 9,200
• Architects's fees                                        28,000
• Legal fees for title investigation and purchase contract     4,600
• Construction costs                                 $ 850,000

Hilton sold salvaged materials resulting from the demolition for $ 3,600.

At what amount should Hilton record the cost of land and the new building respectively?