Costs Incurred During This Period Are Listed Below: Legal Fees $\quad$

Costs incurred during this period are listed below: Legal fees for title investigation and purchase contract $\quad$ 5,000
Demolition of old building $\quad$ $\quad$ $\quad$ $ 15,000
Architect's fees $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ 42,000
Construction costs $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ 1,500,000
Rupport should record the cost of the land and the cost of the new building, respectively, as

A) $70,000 and $1,542,000
B) $50,000 and $1,562,000
C) $55,000 and $1,557,000
D) $65,000 and $1,547,000