Question: On March 1 , 2 0 2 4 , Beldon Corporation purchased land as a factory site for $ 6 2 , 0 0 0

On March 1,2024, Beldon Corporation purchased land as a factory site for $62,000. An old building on the property was demolished. and construction began on a new building that was completed on December 15,2024. Costs incurred during this period are listed below:pointsSkippedCheck my workDemolition of old building Architect's fees (for new building)Legal fees for title investigation of landProperty taxes on land (for period beginning March 1,2024)$ 5,00014,000eBookHintConstruction costs Interest on construction loan3,0003,200520,0006,000PrintSalvaged materials resulting from the demolition of the old building were sold for $2,200.ReferencesMcRequired:Determine the amounts that Beldon should capitalize as the cost of the land and the new building.

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