Question 43 A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building: Purchase price of the land $ 350,000 Sale of salvaged parts already on land $ 15,000 Demolition of the old building $ 25,000 Ground-breaking ceremony (food and $ supplies) 1,500 Land preparation and leveling $ 7,500 Paving of parking lot 10,000 What amount should be recorded for the purchase of the land? O $367,500 O $407,500 O $379,000 None of the above