Multiple Choice
A plot of land was purchased for $120,000 which had $10,000 of past due property taxes on it. Non-refundable taxes on the purchase were $1,400 and the title search cost $500. The capitalized cost of the land was
A) $120,000.
B) $121,900.
C) $130,000.
D) $131,900.
Correct Answer:
Verified
Correct Answer:
Verified
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