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Commet company had its buildings appraised several weeks ago and found out that the market value has declined since it was first purchased. Commet uses

Commet company had its buildings appraised several weeks ago and found out that the market value has declined since it was first purchased. Commet uses the approach where accumulated depreciation is restated. Commet also tells you that the buildings originally cost $2,000,000 and that the current market value (after the appraisal) is now $1,750,000. Determine what the net carrying amount should be and show all of your calculations for the original, revaluation, and total, showing how you determined the net carrying amount.

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