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What is the initial measurement of the land for dale company

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DALE Company acquired a piece of land on October 30, 2021 on which a new building will be immediately constructed. The cost related to the acquisition included the following:

Cash payment P 2,800,000
Broker's fee 120,000
Option price paid for the land acquired 80,000
Option price for land that was not acquired 30,000
Delinquent property taxes for 2020 that was assumed and paid by DALE Company  120,000
Property taxes for 2020 to be paid on or before December 31, 2020  180,000
Cost of relocating squatters 45,000

Problem 1: The initial measurement of the land is

Reference no: EM132984610

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