JT Engineering paid 520000 for land It paid 65000 to tear do

JT Engineering paid $520,000 for land. It paid $65,000 to tear down a building on the site and made $15,400 in salvage. Title fees cost JT $4,320. Architect\'s fees were $28,200. Construction liability insurance cost $1,600 and the contractor was paid $1,520,000. A $4,620 assessment made by the city for pavement. What is JT’s cost of land?

Solution

cost of land purchase price of land 520,000 Tearing down cost 65,000 Salvage value -15,400 Title fees cost 4,320 Assesment for pavement 4,620 total cost of land 578,540