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Assume trois Cuisines Manufacturing bought three machines in a $100,000 lump-sum purchase. An independent appraiser valued the machines as follow: Machine No. Appraised Value 1
Assume trois Cuisines Manufacturing bought three machines in a $100,000 lump-sum purchase. An independent appraiser valued the machines as follow:
Machine No. | Appraised Value |
1 | $27,000 |
2 | 45,000 |
3 | 36,000 |
Trois Cuisines paid one-third in cash and signed a note payable for the remainder. What is each machine's individual cost? Immediately after making this purchase, Trois Cuisines sold machine 2 for its appraised value. What is the result of the sale? Round to three decimal places.
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