Answer: $1,450,000
Explanation:
From the question, we are informed that the General Service Contractor Company paid $450,000 for a house and lot. The value of the land was appraised at $200,000 and the value of the house at $250,000.
We are further told that the house was then torn down at an additional cost of $35,000 so that a warehouse could be built on the combined lots at a cost of $1,250,000.
The value of the property with the warehouse will be:
= $200,000 + $1,250,000
= $1,450,000
