Saved Help Save & Ext 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 30 Purchase price of the land $400,000 Sale of salvaged parts already on the land $ 20,000 Demolition of the old building $ 30,000 Ground-breaking ceremony (food and 1,500 supplies) Land preparation and leveling $ 7,500 $ What amount should be recorded for the purthase of the land? LUI M What amount should be recorded for the purchase of the land? Multiple Choice $437,500 $417,500 $439,000. $419,000