ST purchased a piece of land on 1 April 2020 to be used as its warehouse site for RM120,000. In order for ST to effectively use the site, a vacant and unoccupied old building on the land was demolished. A new building was then constructed and complete on 31 December 2020. The costs incurred during the period are listed below: Legal fees for obtaining legal title of the land Demolition of the vacant building Fees for architects in erecting the new building Property taxes on land (beginning 1 April 2020) Construction cost RM 4000 8000 24000 6000 300000 Scrapped materials resulting from the demolition of the old building were sold for RM4,000. Required: Compute the amount that ST should capitalized as the cost of the land and the new building. Explain why each of the item listed was included or not included.