on march 1 2021, Beldon corporation purchased land as a factory site for $64000. An old building on the property was demolished, and construction began on a new building that was completed December 15,2021. Cost incurred are listed below:

demolition of old building: $6000

architect fees $16000

legal fees for title investigation $4000

property taxes (period beginning March 1,2021) $3400

construction cost $54000

interest on construction loan $7000

salvage materials from old building were sold for $2400

required:

determine the amounts that Beldon should capitalize as the cost of the land and the new building

Capitalized cost of land:

Total cost of land:

Capitalized cost of building:

Total cost of building:

Please show all work.