Emily purchased a building to store inventory for her business. The purchase price was $810,000....
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Emily purchased a building to store inventory for her business. The purchase price was $810,000. Emily also paid legal fees of $405 to acquire the building. In March, Emily incurred $2,000 to repair minor leaks in the roof (from storm damage earlier in the month) and $4,400 to make the interior suitable for her finished goods.
What is Emily's cost basis in the new building?
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