Question

A company incurred the following​ costs: Purchase price of land $ 300 comma 000 Survey fees 7 comma 000 Payment for demolition of old building on land 20 comma 000 Back property taxes on land 3 comma 000 Paving costs for parking lot 60 comma 000 Fence around perimeter of land ​15,000 Lights in parking lot ​90,000 Signs for new business ​5,000 What is the cost of the​ land?

Answer 1

$330,000

Step-by-step explanation:

Given that,

Purchase price of Land = $300,000

Survey fees = $7,000

Demolition of old building = $20,000

Back Property taxes = $3,000

Therefore,

Cost of the​ land:

= Purchase price of Land + Survey fees + Demolition of old building + Back Property taxes

= $300,000 + $7,000 + $20,000 + $3,000

= $330,000