On January 6, Year 1, Mount Jackson Corporation Purchased a Tract

Multiple Choice

On January 6, Year 1, Mount Jackson Corporation purchased a tract of land for a factory site for $770,000. An existing building on the site was demolished and the new factory was completed on October 11, Year 1. Additional cost data are shown below: Which of the following are the capitalized costs of the land and the new building, respectively?

A) $842,400 and $985,000
B) $780,500 and $1,046,900
C) $849,900 and $977,500
D) $770,000 and $1,057,400