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Assume that the following balance sheets are stated at book value. Suppose the fair market value of acquired firm's fixed assets is $12,000 versus the

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Assume that the following balance sheets are stated at book value. Suppose the fair market value of acquired firm's fixed assets is $12,000 versus the book value shown. The acquiring firm pays $19,000 for the acquired firm and raises the needed funds through an issue of long-term debt. Assume that the purchase method of accounting is used. Current assets Net fixed assets $4,000 Acquiring Firm $5,000 Current liabilities 25,000 Long-term debt Equity $30,000 Total 6,000 Total 20,000 $30,000 Acquired Firm Current $3,000 Current assets liabilities $2,000 Net fixed 7.000 assets Long-term debt 5,000 Equity 3,000 Total $10,000 Total $10,000 What is the value of long-term debt that should be shown on the post-merger balance sheet? Enter your answer in the box shown below as dollars with 2 digits to the right of the decimal point

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