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72- Halifax Resort incurred the following costs to acquire and prepare land during 2013 for a new parking lot: purchase price for land, $800,000; cost

72- Halifax Resort incurred the following costs to acquire and prepare land during 2013 for a new parking lot: purchase price for land, $800,000; cost to clear the land, $30,000; cost of paving, $40,000; and lighting for the parking lot, $20,000. How much should Halifax record in the Land Improvements account?

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