Vijay Inc. purchased a three-acre tract of land for a building site for $400,000. On the land was a building with an appraised value of $124,000. The company demolished the old building at a cost of $12,800, but was able to sell scrap from the building for $1,620. The cost of title insurance was $830 and attorney fees for reviewing the contract were $420. Property taxes paid were $2,600, of which $190 covered the period subsequent to the purchase date. The capitalized cost of the land is: