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A company purchased land and building from a seller for $900,000. A separate appraisal reveals the fair value of the land to be $200,000

A company purchased land and building from a seller for $900,000. A separate appraisal reveals the fair value of the land to be $200,000 and the fair value of the building to be $800,000. For what amount would the company record land at the time of purchase?

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