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.)