Wilson Co. purchased land as a factory site for $1,350,000. Wilson paid $120,000 to tear down two buildings on the land. The salvage sold for $8,100. Legal fees of $5,220 were paid for title research and completion of the purchase. The architect's fee was $46,800. Title insurance was $3,600 and construction liability insurance was $3,900. The excavation cost $15,660. The contractor was paid $4,200,000. An assessment made by the city for the pavement was $9,600. Interest costs during construction were $255,000.

What would be the cost of land to be recorded by Wilson Co. ?

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Answer Solution Cost of Land Calculate the cost of land as shown below LAND ... View the full answer