State real estate transfer taxes totaled 2500 building, Financial Management

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State real estate transfer taxes totaled 2500 building

At a cost of $200,000, Assume In-N-Out Burger acquired a tract of land for a restaurant site. It paid attorneys $7500 to conduct a title search and to prepare the required legal documents for the purchase. State Real Estate transfer taxes totaled $2500. Building permits totaled $1,200. Compute the acquisition cost of the land.

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Financial Management: State real estate transfer taxes totaled 2500 building

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