10. A local citizen donated land to the county government. It estimates that it could have purchased the same or similar land for $500,000. The donor had paid $550,000 for the land five years ago. The county incurred $150,000 in development costs to convert the land into a public park. The county should capitalize the new public park in the General Capital Assets Non-Fund account in the amount of a. $500,000. b. $550,000. c. $650,000. d. $700,000.
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