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Compute the capitalized cost of the land

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Question - A plot of land was purchased for $120,000 and had $10,000 of past due property taxes on it. Non-refundable taxes on the purchase were $1,400 and the title search cost $500. Compute the capitalized cost of the land?

a. $120,000.

b. $121,900.

c. $130,000.

d. $131,900.

Reference no: EM132517142

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