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BE10-1 The following expenditures were incurred by McCoy Company in purchasing land: cash price $50,000, accrued taxes $3,000, attorneys fees $2,500, real estate brokers commission

BE10-1 The following expenditures were incurred by McCoy Company in purchasing land: cash price $50,000, accrued taxes $3,000, attorneys fees $2,500, real estate brokers commission $2,000, and clearing and grading $3,500. What is the cost of the land?

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