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Sandwich Express incurred the following costs related to its purchase of a new building. Purchase...

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Accounting

Sandwich Express incurred the following costs related to its purchase of a new building. Purchase price $20,000,000 Closing costs and other legal fees to purchase 1,600,000 Renovations to prepare for use 2,200,000 Utilities for the first year 1,400,000 Total costs $25,200,000 At what amount should Sandwich Express record the new building?

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