Question: A company needed a new building. It found a suitable location with an existing old building on the land. The company reached an agreement to

A company needed a new building. It found a suitable location with an existing old building on the land. The company reached an agreement to buy the land and the old building for $

993, 000

cash. The old building was demolished to make way for the needed new building. Following is information regarding the demolition of the old building and construction of the new one.

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table

[[

Construction cost of new building,$

8, 965, 000

A company needed a new building. It found a suitable location

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