A company purchased land for $83,000 cash. Commissions of $8,500, property taxes of $9,000, and title insurance of $2,400 were also incurted. The $9.000 in property taxes includes $5,600 in back taxes paid by the company on behalf of the seller and $3,400 due for the current year after the purchase date. For what amount should the company record the land? Multiple Cholse 597100 $99,500 589,000 $102,900