Marvel exchanges a plot of land (carrying amount 600,000, fair value 900,000) for a building to be leased, and pays an additional 100,000 in cash. The exchange has commercial substance (case data). Calculate the cost of the investment property acquired.
- Fair value of the land given up
- 900,000
- Cash paid
- 100,000
- Carrying amount of the land given up
- 600,000