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Land, buildings, and equipment are acquired for a lump sum of $950,000. The fair values...

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Accounting

image Land, buildings, and equipment are acquired for a lump sum of $950,000. The fair values of the three assets are respectively, $200,000, $500,000, and $300,000. What is the cost assigned to the building? A. $555,556 B. $190,000 C. $500,000 D. $475,000

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