Soccer Wholesale purchased land and a warehouse for one price of $980,000. In addition to the purchase price, Soccer Wholesale makes the following expenditures related to the acquisition: broker's commission, $44,100; title insurance $3.200; and miscellaneous closing costs $9,800. The warehouse is immediately demolished at a cost of $81.700 in anticipation of building a new warehouse Determine the amount Soccer Wholesale should record as the cost of the land, Cost of the land