E11-2 (similar to) Question Help On January 2 of the current year, Ayana, Inc. acquired land for $2,300,000 to be used to construct a new service and repair center. The closing costs amounted to $100,000 and Vaughn paid $24,000 for the current period's property taxes. There was an existing structure on the land that had been abandoned for several years. Vaughan agreed to remove the building and dispose of any scrap materials. The demolition cost was $64,000 and the company was required to pay S14,300 to remove the debris. Vaughn was able to sell scrap materials for $4,700 Read the requirements Requirement a. Determine the cost of the land and any expenses incurred during the acquisition. The cost of the land is 2424000 and the costs charged to expense related to the acquisition is 78300 Enter any number in the edit fields and then click Check