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Business, 13.03.2021 05:30 luisr0754

A company purchased a 3-acre tract of land for a building site for $440,000. The company demolished the old building at a cost of $21,000, but was able to sell scrap from the building for $2,400. The cost of title transfer was $1,350 and attorney fees for reviewing the contract was $680. Property taxes paid were $7,500, of which $700 covered the period after the purchase date. The capitalized cost of the land is:

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A company purchased a 3-acre tract of land for a building site for $440,000. The company demolished...
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