Gagner Clinic purchases land for $175,000 cash. The clinic assumes $1,500 in property taxes due on the land. The title and attorney fees totaled $1,000. The clinic has the land graded for $2,200. What amount does Gagner Clinic record as the cost for the land? Select one: a. $179,700 b. $175,000 C. $157,200 d. $157,500 A company purchased factory equipment on April 1, 2017 for $160,000. It is estimated that the equipment will have a $20,000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2017 is Select one: a. $16,000 b. $10,500 C. $12,000 d. $14,000