Sugar Ridge Manufacturing bought three used machines in a $167,000 lump-sum purchase. An independent appraiser valued the

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Sugar Ridge Manufacturing bought three used machines in a $167,000 lump-sum purchase. An independent appraiser valued the machines as shown:

Machine No. ...................... Appraised Value
1 ................................................. $ 38,250
2 ................................................. 73,100
3 ................................................. 58,650

What is each machine’s individual cost? Immediately after making this purchase, Sugar Ridge sold Machine No. 3 for its appraised value. What is the result of the sale? (Round decimals to three places when calculating proportions, and use your computed percentages in all calculations.)

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Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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