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Waterway Industries purchased land as a factory site for $1355000. Waterway paid $124000 to tear down two buildings on the land. Salvage was sold for

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Waterway Industries purchased land as a factory site for $1355000. Waterway paid $124000 to tear down two buildings on the land. Salvage was sold for $8400. Legal fees of $5180 were paid for title investigation and making the purchase. Architect's fees were $46200. Title insurance cost $3800, and liability insurance during construction cost $4100. Excavation cost $15560. The contractor was paid $4300000. An assessment made by the city for pavement was $9900. Interest costs during construction were $252000. The cost of the land that should be recorded by Waterway Industries is $1493980. O $1503580. O $1479580. O $1489480

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