Coscto purchases 10 acreas of land in Cedar City.What should Costco record as the cost of the land at acquisition given the following costs:

Purchase price $250,000 Commissions $7,500 Title fees  $500 Demolition of old building on premesis $15,000 Sale of salvaged items from building demolition  $4,000 Dinner with the Realtor  $150 Scrubbing, Grading and levelingto prepare the land $25,000 

$250,000

$298,150

$298,000

$294,000