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Save Milloy Self Storage purchased land, paying $ 1 6 5 , 0 0 0 cash as a down payment and signing a $ 1

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Milloy Self Storage purchased land, paying $165,000 cash as a down payment and signing a $145,000 note payable for the balance. Milloy also had to pay delinquent property tax of $4,500, title insurance costing $2,000, and $10,000 to level the land and remove an unwanted building. The company paid $57,000 to add soil for the foundation and then constructed an office building at a cost of $950,000. It also paid $50,000 for a fence around the property, $18,000 for the company sign near the property entrance, and $11,000 for lighting of the grounds.
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The cost of the land is
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