Find the cost of the land that should be recorded

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Question - Swifty Corporation purchased land as a factory site for $1340000. Swifty paid $123000 to tear down two buildings on the land. Salvage was sold for $8100. Legal fees of $5320 were paid for title investigation and making the purchase. Architect's fees were $46800. Title insurance cost $3900, and liability insurance during construction cost $4200. Excavation cost $15980. The contractor was paid $4300000. An assessment made by the city for pavement was $10000. Interest costs during construction were $251000. Find the cost of the land that should be recorded by Swifty Corporation?

a. $1474120.

b. $1488320.

c. $1478320.

d. $1464120.

Reference no: EM132631727

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