Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $33,000 in cash and giving a short-term note $319,000. Legal fees paid were $2,150, delinquent taxes assumed were $12,600, and fees paid to remove an old building from the land were $17,200. Materials salvaged from the demolition of the building were sold for $5,300. A contractor was paid $1,070,100 to construct new warehouse Determine the cost of the land to be reported on the balance sheet. X Feedback