The cost of the land, based on the land purchase price, the broker commission, and the demolition cost, is $195, 879
How to find the cost of the land?
The cost of the land will be all the costs that went into both acquiring the land and then getting it ready for use.
These costs include the purchase price, the commission paid to the broker, and the demolition costs.
The cost of the land is therefore:
= Purchase price of land + broker commission + demolition and removal cost
= 174, 350 + 16, 953 + 4, 576
= $195, 879
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