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Caro Inc. acquired a building with a fair market value of $20,000 in in exchange for 2,000 of its common shares. At the time of

Caro Inc. acquired a building with a fair market value of $20,000 in in exchange for 2,000 of its common shares. At the time of the exchange, Caro's shares were selling for $9. Caro should record the building at $20,000. Select one: True False

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