The cost of the land is The cost of the land improvements is The cost of the building is Murphy Self Storage purchased land, paying $190,000 cash as a down payment and signing a $145,000 note payable for the balance. Murphy also had to pay delinquent property tax of $5,500, tite insurance costing $4,000, and $6,000 to level the land and remove an unwanted building. The company paid $60,000 to add soil for the foundation and then constructed an office building at a cost of $900,000. It also paid $52,000 for a fence around the property, $13,000 for the company sign near the property entrance, and $9,000 for lighting of the grounds Read the recuirement. The cost of the land is