The Venus Company hired an architect to design plans and a construction firm to build a new office building on a parcel of land it owns. The following data relates to the building:
| Price paid to the construction firm Don't use plagiarized sources. Get Your Custom Essay on the venus company hired an architect to design plans and a construction firm to buil 610330 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page | $320,000 |
| Architect fees | 18,000 |
| Permit fees | 1,200 |
| Property taxes during the construction period | 800 |
| Insurance premium for first year of operations | 3.000 |
| Property taxes during the first year of operations | 6.000 |
The total acquisition cost of the new building is:
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