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On December 1, 2020, Firm ABC purchased land for $84,000 cash. The following land-related costs were also incurred:
- Commissions = $3,700
- Title Insurance = $9,000
- Property taxes paid for the month of January 2021 = $2,600
At what amount would Firm ABC record the land?
| | a. | $96,700 |
| | b. | $90,300 |
| | c. | $84,000 |
| | d. | $95,600 |
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