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Palmer, Inc. purchased land with an existing building that it plans to tear down and then build a new building. In the first quarter, the following amounts were incurred: Acquisition of land $250,000 Architectural Fee 25,300 Lawn sprinkler system 2,200 Surveys and legal fees 12,600 Land clearing 11,200 Cost to tear down old building 10,000 Contractor charges for new building 85,000 Fencing 18,300 Material and labor cost for building 660,000 Install lighting and signage 1,900 Parking lot 12,300 O A $770,300 OB. $838,800 OC. $703,600 OD. $780,300 Click to select your