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Find the cost of the building that should be recorded

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Reference no: EM132963540

Question - Corleone Co. purchased land as a factory site for $600,000. Corleone paid $60,000 to tear down two buildings on the land. Salvage was sold for $5,400. Architect's fees were $31,200. The contractor was paid $2,200,000. Interest costs during construction were $170,000. Find the cost of the building that should be recorded by Seiler Co.?

a) $3,931,200

b) $2,231,000

c) $1,700,000

d) $2,200,000

Reference no: EM132963540

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