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Merchant Company purchased land for a building site. The costs associated with the property were: Purchase price $ 185,000 Real estate commissions 15,000 Legal fees

Merchant Company purchased land for a building site. The costs associated with the property were:

Purchase price $ 185,000
Real estate commissions 15,000
Legal fees 700
Expenses of clearing the land 6,000

What is the total recorded cost of the land?

Multiple Choice

$185,000

$206,700

$187,700

$200,700

$200,000

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