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Harris recently bought some property for $105,000 in a sheriffs sale. The land had a usable building on it, and inside the building was some
Harris recently bought some property for $105,000 in a sheriffs sale. The land had a usable building on it, and inside the building was some shelving and storage cabinets. The fair market value for each of the assets acquired was:
Land $30,000
Building $90,000
Fixtures $5,000
Calculate the cost of each asset.
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