Concord Corporation purchased land as a factory site for $1350000. Concord paid $115000 to tear down two buildings on the land. Salvage was sold for $8400. Legal fees of $5220 were paid for title investigation and making the purchase. Architect's fees were $46600. Title insurance cost $3500, and liability insurance during construction cost $3800. Excavation cost $15000. The contractor was paid $4400000. An assessment made by the city for pavement was $9900. Interest costs during construction were $259000. The cost of the land that should be recorded by Concord Corporation is
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Concord Corporation purchased land as a factory site for $1350000. Concord paid $115000 to tear down...
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