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Latham Corporation constructs a new factory building. The materials cost $316,900. Other costs include direct labor of $175,900, worker pension costs of $5,000, architectural fees
Latham Corporation constructs a new factory building. The materials cost $316,900. Other costs include direct labor of $175,900, worker pension costs of $5,000, architectural fees of $15,900, and depreciation on equipment of $27,900. The land was purchased for $34,900. A loan of $606,000 is needed to finance the construction, and interest of $41,000 is paid during the year. Latham's basis in the building is $
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