On March 1, 2018, Beldon Corporation purchased land as a factory site for $72,000. An old building on the property was demolished, and construction began on a new building that was completed on December 15, 2018. Costs incurred during this period are listed below: $ 5,000 11,000 8,000 4,200 620,000 6,000 Demolition of old building Architect's fees (for new building) Legal fees for title investigation of land Property taxes on land (for period beginning March 1, 2018) Construction costs Interest on construction loan Ints eBook Salvaged materials resulting from the demolition of the old building were sold for $3,200 Required Determine the amounts that Beldon should capitalize as the cost of the land and the new building References Complete this question by entering your answers in the tabs below. Cost of Land Cost of New Building Determine the amounts that Beldon should capitalize as the cost of the land. (Amounts to be deducted shoulc with a minus sign Capitalized cost of land