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, $83,000; 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. X Check My Work The cost of a fixed asset is any expenditure necessary to acquire the asset and to prepare the asset for use. These expenditures are said to be capitalized. Feedback screen rec