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Acer Inc plans to develop a shopping center. In the first quarter the following amounts were spent Acquisition of land $23,000 Surveys and legal fees

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Acer Inc plans to develop a shopping center. In the first quarter the following amounts were spent Acquisition of land $23,000 Surveys and legal fees 1,000 Land clearing 1,200 Fencing 9.000 Install lighting and signage 1,660 What amount should be recorded as the cost of the land in the corporation's books? A $25 200 8 $26 860 A $34 200 OD 333,200

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