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A company purchased a $500,000 tract of land that is intended to be the site of a new office complex. The company incurred ad

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Answer #1

Capitalized cost of land

= 500,000 + Demolition 75,000 + Legal fee 15,000 - Scrap 10,000

= 500,000+75,000+15,000-10,000

= 580,000

Option C is the answer

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