Fences and parking lots are reported on the statement of financial position as current assets, land improvements, land. property and equipment. The cost of land does not include costs of improvements with limited lives, special assessments. costs of grading, filling, draining, and clearing, costs of removing old buildings. Gutierrez Company is constructing a building. Construction began in 2010 and the building was completed 12/31/10. Gutierrez made payments to the construction company of $1.500.000 on 7/1, $3, 300,000 on 9/1. and $3.000.000 on 12/31. Average accumulated expenditures were Worthington Chandler Company purchased equipment for $10.000. Sales tax on the purchase was $500. Other costs incurred were freight charges of $200. repairs of $350 for damage during installation, and installation costs of $225. What is the cost of the equipment? Construction of a qualifying asset is started on April 1 and finished on December 1. The fraction used to multiply an expenditure made on April 1 to find weighted - average accumulated expenditures is