Cornerstone Exercise 7-17 (Algorithmic) Cost of a Fixed Asset Borges Inc. recently purchased land to use for the construction of its new manufacturing facility and incurred the following costs: purchase price, $78,000; real estate commissions, 54,800; delinquent property taxes, $1,500; closing costs, $3,300, choring and grading of the land, $8,100. Required: Determine the cost of the land