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The Corner Market has decided to expand its retail store by building on a vacant lot it currently owns. This lot was purchased four years
The Corner Market has decided to expand its retail store by building on a vacant lot it currently owns. This lot was purchased four years ago at a cost of $299,000, which the firm paid in cash. To date, the firm has spent anoth $38,000 on land improvements, all of which was also paid in cash. Today, the lot has a market value of $329,000. What value should be included in the analysis of the expansion project for the cost of the land? O The current market value of the land O Zero because the land and the improvements were previously purchased with cash O The current market value of the land plus the cash paid for the improvements O The sum of the cash paid to date for both the lot and the improvements O The original purchase price only
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