Lowndes Inc purchases a parcel of land for $100,000 on which they intend to build a new warehouse in addition to the land. Lowndes incurred the following costs associated with the project: $5,000 in real estate agent fees $3,000 in attorney fees associated with the purchase $2,000 in architect fees to design the new warehouse $10,000 to install fencing and lighting for the warehouse $500 received for salvage materials from the old shack that was removed $15,000 to install a driveway and parking lot What cost should Lowndes record as the purchase price for the parcel of land