Vijay inc. purchased a three-acre tract of land for a building site for $320,000. on the land was a building with an appraised value of $121,000. the company demolished the old building at a cost of $12,800, but was able to sell scrap from the building for $1,610. the cost of title insurance was $870 and attorney fees for reviewing the contract were $540. property taxes paid were $2,500, of which $160 covered the period subsequent to the purchase date. the capitalized cost of the land is:
a) $365,700.b) $364,090.c) $366,050.d) $233,160.