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Business, 06.07.2019 02:20 monaec1757

On march 1, 2014, rollinger company acquired real estate on which it planned to construct a small office building. the company paid $79,660 in cash. an old warehouse on the property was razed at a cost of $10,020; the salvaged materials were sold for $3,380. additional expenditures before construction began included $1,160 attorney’s fee for work concerning the land purchase, $4,870 real estate broker’s fee, $7,970 architect’s fee, and $13,570 to put in driveways and a parking lot. determine the amount to be reported as the cost of the land.

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