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A state hadan investment with a cost of $600,000 that was actively traded.At the end of Year 1, the price of an identical investment was

A state hadan investment with a cost of $600,000 that was actively traded.At the end of Year 1, the price of an identical investment was $550,000 and the price of a similar investment was $575,000.The comptroller calculated the fair value at $525,000 based on an income approach. What was the value of the investment at the end of Year 1?

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