A local park acquires new land adjacent to its current park with the purposes of expansion. The following costs were incurred: Purchase Price of land
A local park acquires new land adjacent to its current park with the purposes of expansion. The following costs were incurred:
Purchase Price of land 75,000
Closing and Admin Costs 6,700
Attorney Fees 5,000
Installation of fence 6,000
Tree removal for trail 4,200
Trail paving 8,900
Monthly Lawncare 340
If they expect to not sell the land for at least 20 years, what is the amount of annual depreciation expense for the land? (no commas, spaces, decimals, or dollar signs?
What is cost of land improvements? (no commas, spaces, decimals, or dollar signs?
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Authors: Floyd A. Beams, Robin P. Clement, Suzanne H. Lowensohn, Joseph H. Anthony
9th Edition
0131851225, 978-0131851221
