9.1 Property, Plant, and Equipment A land developer purchased some farmland to build a suburb. The full cost was $2,000,000 and the package was appraised as follows: land: $1,200,000; buildings, $900,000; land improvements, $300,000. In addition, the developer spent $550,000 installing utilities, $1,300,000 preparing the streets and $300,000 building a parking lot. The developer received $100,000 when the topsoil was sold. Calculate the cost of the land. $900,000 O $1,000,000 O $1,200,000 O $2,750,000 Save for Later Submit Answer