Question 2 (Mandatory) (2.5 points) The following facts surround Wilson Co.'s purchase of land & construction of a new building: Land Cost: $1,350,000 Cost to tear down two buildings on the land: $120,000 Salvage value of two buildings on the land: $8,100 Realtor Fees: $5,220 Title insurancefor property: $3,600 Liability insurance during construction: $3,900. Architect's fees: $46,800 Lumber cost: $15,660 Liability insurance during construction: $3,900. Architect's fees: $46,800 Lumber cost: $15,660 Contractor fees: $4,200,000 Driveway pavement, to be replaced every 5 years: $9,600 Interest costs during construction: $255,000 The cost of the building that should be recorded by Wilson Co. is: 4,530,960 4,219,800 4,521,360 4,205,700