January 31 Land and buildings $160,000 February 28 Cost of removal of building 9,800 May 1 Partial payment of new construction 60,000 May 1 Legal fees paid 3,770 June 1 Second payment on new construction 40,000 June 1 Insurance premium 2,280 June 1 Special tax assessment 4,000 June 30 General expenses 36,300 July 1 Final payment on new construction 30,000 December 31 Asset write-up 53,800 399,950 December 31 Depreciation2015 at 1% (4,000) December 31, 2015 Account balance $395,950

What is the total cost of removal of old buildings that amounted to $9,800, and the demolition company retained all materials of the building?