Vaughn Manufacturing purchased land as a factory site for $1345000. Vaughn paid $110000 to tear down two buildings on the land. Salvage was sold for $8500. Legal fees of $5300 were paid for title investigation and making the purchase. Architect's fees were $46700. Title insurance cost $4000, and liability insurance during construction cost $4300. Excavation cost $15640. The contractor was paid $4400000. An assessment made by the city for pavement was $9700. Interest costs during construction were $252000.

The cost of the land that should be recorded by Vaughn Manufacturing is

$1479700.

$1455800.

$1465500.

$1470000.