Jack Company purchased land at a price of $40,000. Closing costs for the transaction totaled $1,200. After the sale, Jack demolished and removed an old barn on the land at a cost of $5,000 to prepare the land for its intended use. What is the total dollar amount capitalized as the cost of the land? A. $40,000. B. $41,200. C. $45,000. D. $46,200.