Business, 25.12.2020 20:50 ayoismeisjjjjuan

Vijay Inc. purchased a three-acre tract of land for a building site for $260,000. On the land was a building with an appraised value of $128,000. The company demolished the old building at a cost of $11,300, but was able to sell scrap from the building for $1,670. The cost of title insurance was $830 and attorney fees for reviewing the contract were $420. Property taxes paid were $3,300, of which $170 covered the period subsequent to the purchase date. The capitalized cost of the land is:

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Vijay Inc. purchased a three-acre tract of land for a building site for $260,000. On the land was a...

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