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Purchase Price: 7,000,000 Demolition of Old Building: 500,000 Proceeds from sale of salvage...

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Accounting

Purchase Price: 7,000,000

Demolition of Old Building: 500,000

Proceeds from sale of salvage value: 60,000

Title guarantee insurance: 110,000

Legal Fees for purchase contract and recording ownership: 300,000

Payment of delinquent property taxes: 45,000

How much is the cost of the land?

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