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Bachman, Inc. plans to develop a shopping center. In the first quarter, the following amounts were spent: Acquisition of land $25,000 Surveys and legal fees

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Bachman, Inc. plans to develop a shopping center. In the first quarter, the following amounts were spent: Acquisition of land $25,000 Surveys and legal fees 900 Land clearing 200 Fencing 2,000 Install lighting and signage 960 What amount should be recorded as the cost of the land in the corporation's books

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