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Concord Corporation purchased a tract of unimproved land for $647,000. This land was improved and...

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Accounting

Concord Corporation purchased a tract of unimproved land for $647,000. This land was improved and subdivided into bullaing lots at an additional cost of $122,000. These building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows:
\table[[Group,No. of Lots,Price per Lot],[1,21,$23,600
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