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Coronado Industries purchased the assets of Sandhill Co. at an auction for $5835000, An independent appraisal of the fair value of the assets is listed
Coronado Industries purchased the assets of Sandhill Co. at an auction for $5835000, An independent appraisal of the fair value of the assets is listed below: Land $1865000 Building 2800000 Equipment 2370000 Trucks 3320000 Assuming that specific identification costs are impracticable and that Coronado allocates the purchase price on the basis of the relative fair values, what amount would be allocated to the Trucks? Assuming that specific identification costs are impracticable and that Coronado allocates the purchase price on the ba relative fair values, what amount would be allocated to the Trucks? $3383500 O $1870806 O $2800000 $3320000
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