Privett, Inc. purchased land in 2019. An existing structure was demolished, and a new warehouse was constructed on the property in September of 2019. Privett hired construction workers at a rate of $25 per hour to do the work (1,680 hours in total). Privett's operations manager spent 25% of his time in September supervising the construction Warehouse Construction Cost Data Cost to remove structure on Purchase price - Land $125,000 land $10,000 Operation manager's monthly Proceeds from sale of metal salary 5,000 from demolished structure 3,000 Paving of parking lot 10,000 Landscaping costs 12,000 Foundation work 15,000 Direct materials - Warehouse 105,000 Closing costs on land Parking lot lighting 10,000 purchase 5,000 Electrical/Plumbing contractors 25,000 Payroll tax rate (all Hourly wage rate - Workers 25 employees) 10% Privett had an appraisal done in October 2019. The land and land improvements were appraised for $150,000 and $50,000, respectively; the building was appraised for $175,000 1. What is the amount in the Land account related to this construction project? A. $122,000 B. $127,000 C. $130,000 D. $125,000 E. $137.000