Question
A state had an investment with a cost of $600,000 that was actively traded. At the end of year1 the price of identical investment was
A state had an investment with a cost of $600,000 that was actively traded. At the end of year1 the price of identical investment was $550,000 and the price of similar investment was $575,000. The comptroller calculated the fair vale at $525,000 based on an income approach.
What was the the value of the investment at the end of year 1?
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
