A Company Acquired Some Land for $80,000 to Construct a New

Multiple Choice

A company acquired some land for $80,000 to construct a new office complex.Legal fees paid were $2,300,delinquent taxes assumed were $3,400,and $5,850 was paid to remove an old building from which salvaged materials sold for $1,950.What is the cost basis for the land?

A) $93,500
B) $91,550
C) $85,700
D) $89,600