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A building with an appraisal value of $125,082 is made available at an offer price of $159,821. The purchaser acquires the property for $30,619 in
A building with an appraisal value of $125,082 is made available at an offer price of $159,821. The purchaser acquires the property for $30,619 in cash, a 90-day note payable for $27,981, and a mortgage amounting to $58,775. The cost basis recorded in the buyer's accounting records to recognize this purchase is
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