The following expenditures and receipts are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses. (a) Money borrowed to pay building contractor (signed a note) $(285,000) (b) Payment for construction from note proceeds 285,000 (c) Cost of land fill and clearing 10.930 (d) Delinquent real estate taxes on property assumed by purchaser 8,140 (e) Premium on 6-month insurance policy during construction 10,680 (f) Refund of 1-month insurance premium because construction completed early (1,780) (g) Architect's fee on building 27,510 (h) Cost of real estate purchased as a plant site (land $204,100 and building $55,800) 259,900 4 (1) Commission fee paid to real estate agency 9.280 (i) Installation of fences around property 4,100 (k) Cost of razing and removing building 11,490 (1) Proceeds from salvage of demolished building (4,660) (m) Interest paid during construction on money borrowed for construction 12.470 (n) Cost of parking lots and driveways 18.760 (0) Cost of trees and shrubbery planted (permanent in nature) 12.650 (p) Excavation costs for new building 2.860