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Cullumber Company purchases land for $150000 cash. Cullumber assumes $4800 in property taxes due on the land. The title and attorney fees totaled $3100. Cullumber

Cullumber Company purchases land for $150000 cash. Cullumber assumes $4800 in property taxes due on the land. The title and attorney fees totaled $3100. Cullumber has the land graded for $3400. They paid $22000 for paving of a parking lot. What amount does Cullumber record as the cost for the land?

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