2 Homework Unanswered Greg Davies Purchased some land. The purchase price of the land was $50,000. He then paid $5,000 in legal fees and for real estate commission. An old warehouse on the land was razed to clear it for use, which cost $2,000. $1,000 was also paid in back taxes for the property and another $3,000 was paid on an insurance policy for the land for 10 years. How much would Greg Davies record as the cost of the land? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $50,000 b $56,000 C $58,000 d $61,000 Unanswered 2 attempts left Submit