A Plot of Land Was Purchased for $120,000 and Had

question 2

Multiple Choice

A plot of land was purchased for $120,000 and 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.

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