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, $$80,000$; interest charges, $$500$; real estate commissions, $$4,800$; delinquent property taxes, $$1,500$; closing costs, $$3,300$; and clearing and grading of the land, $$8,100.$

Required:

Determine the cost of the land.

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