On January 6,2016,the Mount Jackson Corporation purchased a tract of land for a factory site for $1,500,000.An existing building on the site was demolished and the new factory was completed on October 11,2016.Additional cost data are shown below:
Which of the following correctly states the capitalized cost of the (a) land and (b) the new building?
A) $1,637,600/$1,898,000
B) $1,515,400/$2,020,200
C) $1,648,600/$1,887,000
D) $1,500,000/$2,035,600
Correct Answer:
Verified
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