en olgen 7. EX.09-03.ALGO (Algorithmic) Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $36,000 and giving a short-term note for $336,000. Legal fees paid were $1,675, delinquent taxes assumed were $14, 100, 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 $5,600. A contractor was paid $1,130,900 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. 8. EX.09-07.ALGO (Algorithmic) Depreciation by Units-of-activity Method A diesel-powered tractor with a cost of $93,780 and estimated residual value of $7,300 is expected to have a useful operating life of 46,000 hours. During February, the tractor was operated 200 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places