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Company A purchases several assets from a company that is going out of business. The lump-sum purchase is completed on August 1 at a total
Company A purchases several assets from a company that is going out of business. The lump-sum purchase is completed on August 1 at a total cash price of $900,000 for a building- 450,800, land-299,600, land improvements-29,800, and four company. The estimated market values of the assets are:
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