Reference no: EM132611913

Question - Wildhorse Company purchased land for $115100 with the intentions of constructing a new operating facility. The land purchase included a dilapidated building that was removed at a cost of $16400. The only salvage value from this old building was some materials which were sold for proceeds of $3600. Wildhorse had paid surveying costs of $2500 and legal fees related to land transfer of $6100. The new building was quickly constructed at a total cost of $422900. Permits on the construction of this new facility totalled $18000. Insurance premiums of $8600 are paid annually. The production manager is currently on-site facilitating the production startup. This manager is an annual salary of $85800. What capital cost is assigned to the land?