Course: CBSY $2306$: Ac$...$

On March $1,2023,$ Bramble Corp. acquired a $10-$unit residential complex for $$1,262,000,$ paid in cash. An independent appraiser determined that $75\%$ of the total purchase price should be allocated to buildings, with the remainder allocated to land. On the date of acquisition, the building's estimated useful life was $25$ years, with estimated residual value of $$325,200.$ Bramble estimates that straight$-$line depreciation would best reflect the pattern of benefits it will receive from the building. Fair value of the complex, as assessed by an independent appraiser on each date, is as follows:

$\backslash$table$[[$Date$,$Fair Value$],[$December $31,2023,$$$1,321,500$