A company purchased land for $91,000 cash. Commissions of $12,500, property taxes of $13,000, and title insurance of $4,000 were also incurred. The $13,000 in property taxes Includes $7,200 in back taxes paid by the company on behalf of the seller and $5,800 due for the current year after the purchase date. For what amount should the company record the land? Multiple Choice $110,700 $114,700 3120,500 91000