Shelton Company purchased a parcel of land six years ago for $$869,500.$ At that time, the firm invested $$141,000$ in grading the site so that it would be usable. Since the firm wasn't ready to use the site itself at that time, it decided to lease the land for $$52,000$ a year. The company is now considering building a warehouse on the site as the rental lease is expiring. The current value of the land s $$921,000.$ What value should be included in the initial cost of the warehouse project for the use of this land?

Multiple Choice

$$0$

$$869,500$

$$921,000$

$$1,062,000$