Randall Company bought real estate, on which there was an old office building, for $$400,000.$ It paid $$30,000$ in cash as a down payment and signed an $8\%$ mortgage for the remainder. It immediately had the old building razed at a net cost of $$25,000.$ Attorneys were paid $$8,000$ in connection with the land purchase and an additional $$4,000$ in connection with permits and zoning variances necessary for Randall's new office building. $$25,000$ was paid for excavation for the basement of the new building, $$1,600,000$ was paid for construction of the new building, and $$55,000$ was paid for a parking lot and necessary walkways and driveways.

For how much should the new office building be recorded?

$$1,662,000.$

$$1,680,000.$

$$1,684,000.$

$$1,629,000.$