Precision Electric Company purchased an adjacent lot to construct a new warehouse, paying $00,000 in cash and qiving a short-term note for sta0,000, tegal fees paid were. $1,500, delinquent taxes assumed were $12,000, and fees pard to remove an old buiding from the land were $26,000, Then, grading and leveling the ground were cempleted for $4,200. Next, matenals salvaged from the demolition of the building were sold for $3,500. Finally, the contractor installed a paved parking lot costing $16,200 and added t6,400 of parking lot lights