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Business, 19.05.2020 22:19 hooplikenari

A company purchased a 3-acre tract of land for a building site for $450,000. The company demolished the old building at a cost of $22,000, but was able to sell scrap from the building for $2,500. The cost of title transfer was $1,400 and attorney fees for reviewing the contract was $700. Property taxes paid were $8,000, of which $750 covered the period after the purchase date. The capitalized cost of the land is: Multiple Choice $345,350. $478,850. $480,350. $480,600.

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A company purchased a 3-acre tract of land for a building site for $450,000. The company demolished...
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