Tamarack Company purchased a plant from one of its suppliers. The \(\$ 1,000,000\) purchase price included the land, a building, and factory machinery. Tamarack also paid \(\$ 6,000\) in legal fees to negotiate the purchase of the plant. An appraisal showed the following values for the items purchased:

Using the assessed value as a guide, allocate the total purchase price of the plant to the land, building, and machinery accounts in Tamarack Company's records.

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Property Land.... Building. Machinery.. Total Assessed Value $126,000 456,000 318,000 $900,000