$53,000 1,100 5) Brummel, Inc. is developing a shopping center and incurred the following costs: Acquisition of land Lawn sprinkler system Surveys and legal fees 1,000 Land clearing 800 Fencing 6,300 Install lighting and signs 1,200 2,700 Parking lot What amount should be recorded as the cost of the land in the firm's books? A) $63,400 B) $54,800 C) $54,000 D) $66,100