a company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building: purchase price of the land $ 440,000 sale of salvaged parts already on the land $ 60,000 demolition of the old building $ 70,000 ground-breaking ceremony (food and supplies) $ 3,500 land preparation and leveling $ 9,500 what amount should be recorded for the purchase of the land?