Lauer's have decided to expand their retail shop by building on a vacant lot they own.The company will build a new building at an estimated cost of $1.8 million.The firm will spend another $400 000 on the parking and access roads.The land was purchased ten years ago at a cost of $900 000.Today,that land is worth $2.8 million.What is the cost of this expansion project?

Question

Quizplus · Accepted Answer

The cost of the expansion project includes the current value of the land ($2.8 million), the cost of the new building ($1.8 million), and the cost of parking and access roads ($400,000), totaling $5.0 million.

Lauer's Have Decided to Expand Their Retail Shop by Building