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Compute the acquisition cost of the land

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Problem - Costs to be Included in Historical Cost Valuation - At a cost of $200,000, assume In-N-Out Burger acquired a tract of land for a restaurant site. It paid attorneys $7,500 to conduct a title search and to prepare the required legal documents for the purchase. State real estate transfer taxes totaled $2,500. Building permits totaled $1,200. Compute the acquisition cost of the land.

Reference no: EM132893011

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