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You purchase land for $100,000, pay $3,000 to a real estate agent, $1,000 in one time taxes, and $4,000 to put up fencing. The amount you can capitalize under Land is: $100,000 $108,000 $104,000 $103,000 You purchase a building for $2,500,000, pay legal fees of $100,000, and pay back taxes of $50,000. You immediately occupy the building and pay $500,000 for renovations. The amount you can capitalize as part of the building is: $3,150,000 $2,650,000 $2,600,000 $2,500,000 You purchase another company for $50m. The company you purchase has assets with a fair value of $75m and liabilities with a fair value of $30m. The amount of goodwill you would record in this transaction is: $5m $50m $75m $45m