Vijay Inc. purchased a three$-$acre tract of land for a building site for $$390,000.$ On the land was a building with an appraised value of $$128,000.$ The company demolished the old building at a cost of $$11,900,$ but was able to sell scrap from the building for $$1,690.$ The cost of title insurance was $$940$ and attorney fees for reviewing the contract were $$480.$ Property taxes paid were $$3,900,$ of which $$240$ covered the period subsequent to the purchase date. The capitalized cost of the land is:

Multiple Choice

$$405,290.$

$$406,980.$

$$263,180.$

$$407,220.$