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What the initial measurement of the investment property is

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Cee Corp. acquires a building to be leased out under various operating leases. Cee incurs the following costs on the acquisition:

Purchase price P 20M

Legal services and transfer taxes 20,000

Refurbishments before occupancy 60,000

Occupancy permit fees 50,000

Property taxes after occupancy 16,000

Opening costs (blessing and feng shui) 1M

Problem 1: The initial measurement of the investment property is?

Reference no: EM132818318

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