The company purchased land for $175,000 cash. Commissions of $10,500, property taxes of $4,375, and title insurance of $1,750 were also incurred. The $4,375 in property taxes includes $3,000 in back taxes paid by the company on behalf of the seller and $1,375 due for the current year after the purchase date. For what amount should the land be recorded? O $191,625 O $188,500 O $175,000 0 $190,250