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Hooper Clinic purchases land for $ 1 5 0 , 0 0 0 cash. The clinic assumes $ 1 , 5 0 0 in property

Hooper Clinic purchases land for $150,000 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 the Hooper Clinic record as the cost of the land?

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