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A company paid $10,000 for a lot of computers, a car, and some furniture at police auction. Market value of the items are as follows:
A company paid $10,000 for a lot of computers, a car, and some furniture at police auction. Market value of the items are as follows: Computers $2,500, Car $15,000, Furniture $7,500. What amounts should be attributed to each item for accounting purposes?
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