Hull Company acquires land for $86,000 cash. Additional costs are as follows:


Removal of shed

$300


Filling and grading

1,500


Salvage value of lumber of shed

120


Broker commission

1,130


Paving of parking lot

10,000


Closing costs

560



Hull will record the acquisition cost of the land as



$86,000.



$89,610.



$89,370.



$87,690