Vijay Inc. purchased a three-acre tract of land for a building site for $320,000. On the land was a building with an appraised value of $120,000. The company demolished the old building at a cost of $12,000, but was able to sell scrap from the building for $1,630. The cost of title insurance was $860 and attorney fees for reviewing the contract were $430. Property taxes paid were $3,100, of which $250 covered the period subsequent to the purchase date. The capitalized cost of the land is: Multiple Choice $201,110 $336,390. $334.510. $336,140