Question: Question 3 (8 marks) Do both Part A & Part B Part A The following are expenditures relating to land purchased by EB Enterprises. Purchase

Question 3 (8 marks) Do both Part A & Part B Part A The following are expenditures relating to land purchased by EB Enterprises. Purchase price of land Cost of fencing and lighting Cost of clearing and drainage Property taxes to be borne by buyer Brokerage costs borne by seller of the land $1,500,000 $200,000 $350,000 $10,000 $7,500 Required: 1. Calculate the costs of land improvement and explain why you included ea your calculation. 2. Explain why you excluded the other cost items

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