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m 2 - Chapters 5 - 8 Help A company incurred the following costs associated with the purchase of a piece of land that it

m 2-Chapters 5-8
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A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building:
Purchase price of the land
Sale of salvaged parts already on land
Demolition of the old building
Ground-breaking ceremony (food and
supplies)
Land preparation and leveling
$700,000
24,000
26,000
2,300
7,600
What is the total capitalized cost of the land?
Multiple Choice
$733,600
$711,900
$709,600
$735,900
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