Federal Manufacturers, Inc. purchased land with the intention of building its new administrative headquarters on the site. Which of the following costs should be charged to Land?
I. Title and recording fees.
II. Clearing of trees and grading.
III. Interest on loan to purchased land.
IV. Architect's fees.
V. Installation of sewage system.
o I only.
o I and II only.
o I, II, III, and IV only.
o I, II, III, IV, and V.
The solution explains which costs should be charged to land