1. Which of the following cost is not included in the equipment value: a. Legal fees to transfer the title. b. Purchase price. c. Depreciation taken by the previous owner d. Installation costs to get the asset ready for use 2. Cotton Hotel Corporation recently purchased land in order to build a hotel in the future. Which of the following costs would NOT be included in the value of the land? a. Cost of removing old building b. Cost of building the new hotel C. Land improvements that have indefinite lives d. Purchase price of land 3. The book value of a plant asset is a. the assessed value of the asset for property tax purposes. b. the fair market value of the asset at a balance sheet date. C. the asset's acquisition cost less the total related depreciation recorded to date. d. equal to accumulated depreciation. 4. When a plant asset is acquired by issuance of common stock, the cost of the plant asset is. properly measured by the a. book value of the stock. b. market value (or fair value) of the stock. C. par value of the stock. d. stated value of the stock. 5. Of the following costs related to the development of natural resources, which one is not a part of depletion cost? a. Acquisition cost of the natural resource deposit b. Exploration costs C. Tangible equipment costs associated with machinery used to extract the natural resource d. Intangible develonment costs such as drilling costs tunnole and chaft