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Determining the cost of an Asset Omar Corporation paid 5350,000 for a tract of land that had an old gas station on it. The gas station was demolished at a cost of $20.000 and a new warehouse was constructed on the site at a cost of $600,000 In addition, several other costs were incurred: Legal fees cated with these of the land) 145.000 Acesse we were 550.000 interest on the construction on for the new warehouse 134.000 (al What value should be assigned to the tract of land? (D) What value should be assigned to the new warehouse? Save Answers