A company 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 realized salvage proceeds as follows: 30 Demolition of existing building on site Legal and other fees to close escrow Proceeds from sale of demolition scrap What would be the capitalized cost of the land? $75,000 25,000 10,000 Multiple Choice $500,000 O 10H - 2 % 5 3 4 6 7 8 9 0 W E R T Y IS . Nhich of the following subsequent expenditures would not be capitalized? Multiple Choice Ordinary repairs and maintenance Additions Improvements o F F B TO FO $ % &