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A building with an appraisal value of $129,315 is made available at an offer price of $159,507. The purchaser acquires the property for $34,467 in
A building with an appraisal value of $129,315 is made available at an offer price of $159,507. The purchaser acquires the property for $34,467 in cash, a 90-day note payable for $21,482, and a mortgage amounting to $56,123. The cost basis recorded in the buyer's accounting records to recognize this purchase is
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