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Company A bought from Company B land and an accompanying warehouse for $784,000. The fair market values of the land and the building at the
Company A bought from Company B land and an accompanying warehouse for $784,000. The fair market values of the land and the building at the time of purchase were $700,000 and $300,000, respectively. The purchase price for the land and warehouse should be allocated on the basis of . The amount allocated to the land would be and the amount allocated to the building would be $
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