Brummel, Inc. plans to develop a shopping center. In the first quarter, the following amounts were incurred: Acquisition of land $51,000 Lawn sprinkler system 1800 Surveys and legal fees 1300 Land clearing 800 Fencing 6000 Install lighting and signage 1600 3000 Parking lot What amount should be recorded as the cost of the land in the corporation's books? $62,500 $52,300 $65,500 O $53,100