question 7

Tamara Co. purchased land as a factory site for $1,350,000. Tamara 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 $4,000, and liability insurance during construction cost $5,000. Excavation cost $15,660. The contractor was paid $4,200,000. An assessment made by the city for pavement was $9,600. Interest costs during construction were $255,000. 6. The cost of the land that should be recorded by Tamara Co. is 7.The cost of the building that should be recorded by Tamara Co. is