Question 11 (3 points) Use the following information for item 11 and 12. Rams Company purchased land as a factory site for $900,000. Rams Company paid $80,000 to tear down two buildings on the land. The salvage was sold for $5,400. Legal fees of $3,500 were paid for title investigation and making the purchase. Architect's fees were $31,200. Title insurance cost was $2,400 and liability insurance during construction cost was $2,600. Excavation cost was $10,500. The contractor was paid $2,000,000. Interest costs capitalized during the construction were $17,000 What is the cost of the land that should be recorded by the Rams Company