The Jupiter Company purchased a parcel of land to be used as the site of a new office complex. The following data pertain to the purchase of the land and the beginning of construction for the new building:
|
Purchase price of land |
$200,000 |
|
Attorney”s fees for land transaction |
1,000 |
|
Title insurance cost |
2,000 |
|
Survey fees to determine the boundaries of the lot |
800 |
|
Excavation costs for the building”s foundation |
8,000 |
|
Costs of clearing and grading the land |
1,400 |
The total acquisition cost of the land is:
- $213,200.
- $205,200.
- $203,800.
- $202,400.
- $200,000.