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General Mills: General Mills acquired land for $3,000,000 during the year ended December 31, 20X1, with an additional $200,000 spent on land preparation. Assuming the
- General Mills: General Mills acquired land for $3,000,000 during the year ended December 31, 20X1, with an additional $200,000 spent on land preparation. Assuming the land was purchased on January 1, 20X1, determine the total cost incurred for the land acquisition up to December 31, 20X5.
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