Levi purchases land for $110,000. He incurs legal fees of $1,000 associated with the purchase. He subsequently incurs additional legal fees of $4,000 in having the land rezoned from agricultural to residential. He subdivides the land and installs streets and sewers at a cost of $100,000. What is Levi's basis for the land and the improvements? a. $110,000. b. $210,000. c. $211,000. d. $215,000. e. None of the above