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A building with an appraisal value of $131,089 is made available at an offer price of $151,651. The purchaser acquires the property for $36,725 in
A building with an appraisal value of $131,089 is made available at an offer price of $151,651. The purchaser acquires the property for $36,725 in cash, a 90-day note payable for $20,835, and a mortgage amounting to $57,586. The cost basis recorded in the buyer's accounting records to recognize this purchase is
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