23

of Columbus purchased a $500,000 tract of land that is intended to be the site of a new office complex. The company incurred additional costs and age proceeds as follows: Help Save & Ex: of existing building on site ther fees to close escrow om sale of demolition scrap $ 75,000 15,000 10,000 Id be the cost of the land? altiple Choice $500,000 $575.000 $580,000 BE Sterling Auto of Columbus purchased a $500,000 tract of land that is intended to be the site of a new office complex. The comp realized salvage proceeds as follows: Saved Demolition of existing building on site Legal and other fees to close escrow Proceeds from sale of demolition scrap $ 75,000 15,000 10,000 What would be the cost of the land? Multiple Choice $500,000 $575,000