Common Meals is contemplating constructing a brand new plant in Denver, Colorado. The corporate at present owns some land in Denver, which was bought three years in the past for $1.5 million however the present market worth is estimated to be $1 million. The positioning evaluation carried out by a consulting agency (at a value of $50,000 to Common Meals) reveals that the land is appropriate for the plant. The plant will value $5.5 million to construct. What’s the preliminary funding in mounted property assuming the marginal tax charge for Common Meals is 35%?
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