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Your answer is incorrect. Tamarisk Corporation purchased a tract of unimproved land for $627,000. This land was improved and subdivided into building lots at an
Your answer is incorrect. Tamarisk Corporation purchased a tract of unimproved land for $627,000. This land was improved and subdivided into building lots at an additional cost of $120,000. These building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows: Operating expenses for the year allocated to this project total $69,000. Lots unsold at the yearend were as follows: At the end of the fiscal year Tamarisk Corporation instructs you to arrive at the net income realized on this operation to date. (Do not round intermediate calculations. Round fina
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