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What the book value of the gas station

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Question - On July 30, 2020, Vancouver oil corp. purchased a gas station for $2,100,000 cash. The company expects to operate this outlet for eight years, at which time it will dismantle the structure and remove the underground storage tanks. Vancouver oil is not legally required to do this restoration. Vancouver oil estimated this asset retirement will cost $200,000 in 2028. The company uses a 5% discount rate. What the book value of the gas station that Vancouver should record at acquisition?

Reference no: EM133036816

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