The following expenditures were incurred by Peterson Enterprises Co. in 2011:
Purchase of land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 270,000
Land survey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,800
Fees for search of title for land . . . . . . . . . . . . . . . . . . . . . . . . . . 500
Building permit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000
Temporary quarters for construction crews . . . . . . . . . . . . . . . . 11,200
Payment to tenants of old building for vacating premises . . . . . 4,450
Razing old building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41,000
Excavating basement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,000
Special assessment tax for street project . . . . . . . . . . . . . . . . . 2,400
Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000
Damages awarded for injuries sustained in construction
(no insurance was carried) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,750
Costs of construction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,640,000
Cost of paving parking lot adjoining building . . . . . . . . . . . . . . . 55,000
Cost of shrubs, trees, and other landscaping . . . . . . . . . . . . . . . 36,000
What is the cost of the land, land improvements, and building?