On March 1, 2022, Sandhill Co. acquired real estate, on which it planned to construct a small office building, by paying $85,000 in cash. An old warehouse on the property was demolished at a cost of $9,200; the salvaged materials were sold for $1,900. Additional expenditures before construction began included $1,400 attorney’s fee for work concerning the land purchase, $5,000 real estate broker’s fee, $8,900 architect’s fee, and $15,000 to put in driveways and a parking lot.

(a) Determine the amount to be reported as the cost of the land.

Cost of land

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Rate of return douglas keel, a financial analyst for orange industries, wishes to estimate the rate of return for two similar-risk investments, x and y. douglas's research indicates that the immediate past returns will serve as reasonable estimates of future returns. a year earlier, investment x had a market value of $27 comma 000; and investment y had a market value of $46 comma 000. during the year, investment x generated cash flow of $2 comma 025 and investment y generated cash flow of $ 6 comma 770. the current market values of investments x and y are $28 comma 582 and $46 comma 000, respectively. a. calculate the expected rate of return on investments x and y using the most recent year's data. b. assuming that the two investments are equally risky, which one should douglas recommend? why?

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