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A parcel of land is offered for sale at $45,000 and is assessed for tax purposes at $20,000. The purchaser assesses the land to be

A parcel of land is offered for sale at $45,000 and is assessed for tax purposes at $20,000. The purchaser assesses the land to be worth $36,000, and purchased it for $34,000. The land should be recorded in the purchaser's books at $20,000 $34,000 $36,000 $54,000

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