Acme Investments Plans to Develop a Shopping Center What Amount Should Be Recorded as the Land Cost?
A)$90,000

Acme Investments plans to develop a shopping center. In the first quarter, they spent the following amounts: $$\begin{array} { | l | r| } \hline \text { Purchase land } & \$ 90,000 \\\hline \text { Surveys and legal fees } & 1,200 \\\hline \text { Land clearing } & 5,000 \\\hline \text { Install fences around the property } & 4,600 \\\hline \text { Install lighting and signage } & 2,600 \\\hline\end{array}$$ What amount should be recorded as the land cost?

A) $90,000
B) $91,200
C) $103,400
D) $96,200