1) Pharoah Company incurs these expenditures in purchasing a truck: cash price $ 28,090, accident insurance (during use) $ 2,360, sales taxes $ 1,860, motor vehicle license $ 530, and painting and lettering $ 2,550. What is the cost of the truck?

2) On March 1, 2017, Wildhorse Co. acquired real estate, on which it planned to construct a small office building, by paying $ 85,500 in cash. An old warehouse on the property was demolished at a cost of $ 9,300; the salvaged materials were sold for $ 1,920. Additional expenditures before construction began included $ 1,420 attorneys fee for work concerning the land purchase, $ 5,050 real estate brokers fee, $ 8,920 architects fee, and $15,100 to put in driveways and a parking lot. (a) Determine the amount to be reported as the cost of the land.

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