Eed Exam 2 Ch 4-7 Sq Help Save & Exti 25 On January 6, Year 1, the Mount Jackson Corporation purchased a tract of land for a factory site for $775,000. An existing building on the site was denolehed and the romtraction of the new factory building was completed on October 11, Year 1. Additional cost data are shown below: Construction cost of new building Realtor's and attorney's fees for land purchase Architect's fees relating to construction of new building Cost to demolish old building Salvage recovery from old building Which of the following correctly states the cost of acquiring the land and the cost of the new factory building, respectively? $920,000 11,200 74,000 70,100 (8,000) Multiple Choice $848.300 and $994.000 $775,000 $1067300 $786200$1056100 1856.300 0.000