Determine the cost of Land Village Delivery Company purchased a lot to construct a new warehouse for $268,000, paying $33,000 in cash and giving a short term nate for the remainder. Legal fons paid in connection with the purchase were $2,200, delinquent taxes assumed were $9,400, and fees paid to remove an old building from the land were $16,600. Materials salvaged from the demolition of the building were sold for $1,500. A contractor was pald $915.000 to constructa new warehouse Determine the cost of the land to be reported on the balance sheet