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Maryborough Ltd has acquired a new building for $5,00,000. It has incurred incidental cost of $10,000 in the acquisition process for legal fees, real estate agents fees and stamp duties. Management believes that these costs should be expended because they have not increased the value of the building and if the building was immediately resold, these amounts would not be recouped. In other words the fair value of the buildings is considered to still be $500000.
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