Vijay Inc. purchased a three-acre tract of land for a building site for $220,000. On the land was a building with an appraised value of $127,000. The company demolished the old building at a cost of $11,400, but was able to sell scrap from the building for $1,670. The cost of title insurance was $890 and attorney fees for reviewing the contract were $450. Property taxes paid were $3,100, of which $250 covered the period subsequent to the purchase date. The capitalized cost of the land is: