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Use the following information for questions 1 and 2. Wilson Co. purchased land as a...

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Use the following information for questions 1 and 2. Wilson Co. purchased land as a factory site for 600,000. Wilson paid 60,000 to tear down two buildings on the land. Salvage was sold for 5,400. Legal fees of 3,480 were paid for title investigation and making the purchase. Architect's fees were 31,200. Title insurance cost 2,400, and liability insurance during construction cost 2,600. Excavation cost 10,440. The contractor waspaid2,200,000. An assessment made by the city for pavement was 6,400. Interest costs during construction were 170,000. 1. The cost of the land that should be recorded by Wilson Co.is a. 660,480 b. 666.880. C. 669,880 d. 676,280. The cost of the building that should be recorded by Wilson Co.is a. 2.403,800 b. 2,404,840. C. 2,413,200. d. 2.414 240

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