All of the following regarding accounting for Treasury Stock are true except: Multiple Choice Corporations do not record gains or losses on transactions involving their own stock. Treasury Stock receives cash dividends but not stock dividends. Purchasing Treasury Stock reduces the corporation’s assets and equity by equal amounts. Treasury Stock is presented on the balance sheet as a contra equity account. Treasury Stock does not have voting rights.

Mason farms purchased a building for $689,000 eight years ago. six years ago, repairs costing $136,000 were made to the building. the annual taxes on the property are $11,000. the building has a current market value of $840,000 and a current book value of $494,000. the building is totally paid for and solely owned by the firm. if the company decides to use this building for a new project, what value, if any, should be included in the initial cash flow of the project for this building? $0$582,000$840,000$865,000$953,000