What is the acquisition cost of the? land

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Question: Coulson, Inc. acquired land for $430,000. The closing costs amounted to $14,000 and the firm paid $7,100 for the current? period's property taxes at the end of the year. Coulson plans to build a new storage facility on the land costing $2,355,000. To prepare for construction on the new? facility, removed an old storage building at a cost of $25,500 and acquired building permits for $2,800. What is the acquisition cost of the? land?

Reference no: EM133433901

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