The company paid $57,960 to raze the old buildings and sold salvaged lumber and brick for $8,694. legal fees of $2,553 were paid for title investigation and drawing the purchase contract. coronado paid $3,036 to an engineering firm for a land survey, and $93,840 for drawing the factory plans. the land survey had to be made before definitive plans could be drawn. title insurance on the property cost $2,070, and a liability insurance premium paid during construction was $1,242. the contractor’s charge for construction was $3,781,200. the company paid the contractor in two installments: $1,656,000 at the end of 3 months and $2,125,200 upon completion. interest costs of $234,600 were incurred to finance the construction.
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The company paid $57,960 to raze the old buildings and sold salvaged lumber and brick for $8,694. le...
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