Acompany purchased a $500,000 tract of land that is intended to be the site of a new office complex. the company incurred additional costs and realized salvage proceeds as follows: demolition of existing building on site $ 75,000 legal and other fees to close escrow 15,000 proceeds from sale of demolition scrap 10,000 what would be the capitalized cost of the land?
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Acompany purchased a $500,000 tract of land that is intended to be the site of a new office complex....
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