pierce Self Storage purchased land, paying $155,000 cash as a down payment and signing a $175,000 note payable for the balance. also had to pay delinquent property tax of $5,000 title insurance costing $1,500 and $8,000 to level the land and remove an unwanted building. The company paid $51,000 to add soil for the foundation and then constructed an office building at a cost of $1,100,000 It also paid $49,000 for a fence around the property $21,000 for the company sign near the property entrance, and $6,000 for lighting of the grounds.