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Coronado Industries exchanged 3,200 shares of its common stock for a plant facility from Pearl Industries. The Coronado stock had a par value of $50
Coronado Industries exchanged 3,200 shares of its common stock for a plant facility from Pearl Industries. The Coronado stock had a par value of $50 per share and a market value of $59 per share at the date of exchange. The plant facility had a recorded amount on Pearl's books of 114,750 and an assessed value of $169,280. What amount should Coronado record the equipment at ____?
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