Shaffer Company Acquires Land for $77,000 Cash Shaffer Will Record the Acquisition Cost of the Land as as Follows

Multiple Choice

Shaffer Company acquires land for $77,000 cash. Additional costs are as follows. $$\begin{array} { l r } \text { Removal of shed } & \$ 300 \\\text { Filling and grading } & 1,500 \\\text { Salvage value of lumber of shed } & 120 \\\text { Broker commission } & 1,130 \\\text { Paving of parking lot } & 10,000 \\\text { Closing costs } & 560\end{array}$$ Shaffer will record the acquisition cost of the land as

A) $77,000.
B) $78,690.
C) $80,610.
D) $80,370.