Columbia Company incurred the following expenditures related to the land and building: Payment for land and old building 1,750,000 Demolition of old building to prepare the land for the construction of a new building 87,500 Payment to tenants for vacating old building 26,250 Building permit for new construction 52,500 Surveying fee before construction of new building 35,000 Parking lots and driveways (part of building plan) 70,000 Cost of grading, leveling and landfill 78,750 Assessment by city for drainage project 8,750 Construction costs of new building
Columbia Company incurred the following expenditures related to the land and building:
Payment for land and old building 1,750,000
Demolition of old building to prepare the land for the
construction of a new building 87,500
Payment to tenants for vacating old building 26,250
Building permit for new construction 52,500
Surveying fee before construction of new building 35,000
Parking lots and driveways (part of building plan) 70,000
Cost of grading, leveling and landfill 78,750
Assessment by city for drainage project 8,750
Construction costs of new building 10,500,000
Temporary quarters for construction workers 140,000
Temporary shelter to store construction materials 105,000
Required: What is the cost of new building?
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