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ACCT311-Dorsey Co. has expanded its operations by purchasing

ACCT311-Dorsey Co. has expanded its operations by purchasing Dorsey Co. has expanded its operations by purchasing a parcel of land with a building on it from Bibb Co. for $81,000. The appraised value of the land is $30,000, and the appraised value of the building is $97,000.a.Assuming that the building is to be used in Dorsey Co.’s business activities, what cost should be recorded for the land? (Do not round your intermediate calculations.)