Business, 26.11.2021 17:10 tyreannag2423

A company purchased a three-acre tract of land for a building site for $350,000. The company demolished the old building at a cost of $12,000, but was able to sell scrap from the building for $1,500. The cost of title insurance was $900 and attorney fees for reviewing the contract was $500. Property taxes paid were $3,000, of which $250 covered the period after the purchase date. The capitalized cost of the land is: A. $366,400.
B. $366,150.
C. $364,650.
D. $231,150.

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A company purchased a three-acre tract of land for a building site for $350,000. The company demolis...

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