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Homework answers / question archive / The purchase price is $200,000 plus $10,000 in stamp duty and fees paid to the the State Government and the lawyers

The purchase price is $200,000 plus $10,000 in stamp duty and fees paid to the the State Government and the lawyers

Accounting

The purchase price is $200,000 plus $10,000 in stamp duty and fees paid to the the State Government and the lawyers. Included on the land are two small buildings that must be removed at the cost of $8,000. In addition, the land requires $50,000 in logging, grading and filling before it can be used. Orange and Emily also spends $20,000 on footpaths and outdoor lightings... What is the total cost for LAND? $200.000 $268.000 $210.000 $288,000

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Total Cost of Land = $200000+10000+8000+50000 = $268000

Answer is b. $268000