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Eight years ago, Bravo company purchased land for $170,000. The current fair market value of the land is $421,0000. the rate of general inflation experienced
Eight years ago, Bravo company purchased land for $170,000. The current fair market value of the land is $421,0000. the rate of general inflation experienced during 8-year period has averaged 10% per year. At the time the land was purchased ,Bravo intended to hold it for 20 years. at what amount should the land be carried on Bravo's books today ?
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