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Madison, Inc. has the following asset account balances:
| Buildings and equipment | $4,622,500 |
| Accumulated depreciation | 622,500 |
| Patents | 375,000 |
| Goodwill | 325,000 |
| Accounts receivable | 215,000 |
| Land | 2,507,500 |
What is the total amount that should reported on Madison, Inc.'s balance sheet under Property, plant, & equipment?
Select one:
A. $7,750,500
B. $7,830,000
C. $6,507,500
D. $7,207,500
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