## Answers

Answer:

Option c) is correct. i.e S 319,000.

Amount($) | |

purchase price of land | 2,90,000 |

survey fees | 6,000 |

payment for demolition of old building on land | 20,000 |

back property taxes | 3,000 |

cost of the land | 3,19,000 |

Remaining costs do not form part of cost of land. |

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