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Coyote Company, a manufacturing company, produces large pieces of machinery. Coyote sells a large piece of machinery to Piper Corporation for use in a new

Coyote Company, a manufacturing company, produces large pieces of machinery. Coyote sells a large piece of machinery to Piper Corporation for use in a new production plant. Though Piper could install the equipment on its own, management decides to include installation of the machinery in its contract with Coyote. Piper agrees to a total contract price of $850,000 for both the equipment and the installation. Coyote does not offer a discount on the machinery if they complete the installation. The fair value of the equipment is $850,000 and its cost is $760,000. The fair value of the installation is $50,000 and the cost of the labor to Coyote is $40,000. How much of the contract price should Coyote allocate to the equipment and installation respectively? If a proportion is necessary, round to the nearest one hundredth of a percent (e.g..####) and round all answers to the nearest dollar.
\table[[,Equipment,Installation],[I.,$807,500,$42,500
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