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These expenditures were incurred by Pharoah Ltd. in purchasing land: cash price $425,400; legal fees $8,270; removal of old building $23,420; cost of clearing and

These expenditures were incurred by Pharoah Ltd. in purchasing land: cash price $425,400; legal fees $8,270; removal of old building $23,420; cost of clearing and grading $6,740; installation of fence $2,820. What is the cost of the land?

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