Reed corp. purchased land as a factory site for 1,000,000. Reed paid 40,000 to tear down two building on the land. Salvage was sold for 5,400. Legal fees of 3,480 ere paid for title investigation and making the purchase. Income of 8,000 were earned through using the land as a car park before construction started. Architects fees were 41,200. Title insurance cost 2,400, and liability insurance during construction cost 2,600. Excavation cost 10,440. The contractor was paid 2,400,000. An assessment made by the city of pavement was 6,400.

-The cost of the land is?