Business
Business, 01.11.2019 06:31, shanewugden7362

Vijay inc. purchased a three-acre tract of land for a building site for $350,000. on the land was a building with an appraised value of $118,000. the company demolished the old building at a cost of $11,700, but was able to sell scrap from the building for $1,610. the cost of title insurance was $810 and attorney fees for reviewing the contract were $540. property taxes paid were $3,000, of which $350 covered the period subsequent to the purchase date. the capitalized cost of the land is:

a) $365,700.
b) $364,090.
c) $366,050.
d) $233,160.

answer
Answers: 3

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Vijay inc. purchased a three-acre tract of land for a building site for $350,000. on the land was a...

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