TB EX Qu. 7-190 (Algo) Soccer Wholesale purchased land and a warehouse for... Soccer Wholesale purchased land and a warehouse for one price of $950,000. In addition to the purchase price, Soccer Wholesale makes the following expenditures related to the acquisition: commission to sales agent, $47,300; title insurance, $3,200; and miscellaneous closing costs, $8,600. The warehouse is immediately demolished at a cost of $84,400 in anticipation of building a new warehouse. Required: Determine the amount Soccer Wholesale should report as the cost of the land. Cost of the land