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A company purchased land for $95200 cash. Real estate brokers' commission was $4600 and $8300 was spent for demolishing an old building on the land
A company purchased land for $95200 cash. Real estate brokers' commission was $4600 and $8300 was spent for demolishing an old building on the land before construction of a new building could start. Proceeds from salvage of the demolished building was $1100. Under the historical cost principle, the cost of land would be recorded at?
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