Question 2\ Not yet answered Marked out of 2.00\ p Flog question\ Apple Co. purchased land as a factory site for

$1,350,000

. Apple paid

$120,000

to tear down two buildings on the land. Salvage was sold for

$8,100

. Legal fees of

$5,220

were paid for title investigation and making the purchase. Architect's fees were

$46,800

. Title insurance cost

$3,600

, and liability insurance during construction cost

$3,900

. Excavation cost

$15,660

. The contractor was paid

$4,200,000

. An assessment made by the city for pavement was

$11,600

. Interest costs during construction were

$255,000

. The cost of the land that should be recorded by Apple Co. is\ a.

$1,484,820

.\ b.

$1,480,320

.\ c.

$1,482,320

.\ d.

$1,470,720

.\ Weat nane

Apple Co. purchased land as a factory site for $1,350,000. Apple paid $120,000 to tear down two buildings on the land. Salvage was sold for $8,100. Legal fees of $5,220 were paid for title investigation and making the purchase. Architect's fees were $46,800. Title insurance cost $3,600, and liability insurance during construction cost $3,900. Excavation cost $15,660. The contractor was paid $4,200,000. An assessment made by the city for pavement was $11,600. Interest costs during construction were $255,000. The cost of the land that should be recorded by Apple Co. is a. $1,484,820. b. $1,480,320. c. $1,482,320. d. $1,470,720