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A company purchased land, a building, and equipment for one price of $950,000. The estimated fair values of the land, building, and equipment are $118,750,

A company purchased land, a building, and equipment for one price of $950,000. The estimated fair values of the land, building, and equipment are $118,750, $831,250, and $237,500, respectively. At what amount would the company record the land? Multiple Choice $95,000 $105,000 $118,750 $950,000

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