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If a company is considering the purchase of a parcel of land that was originally acquired by the seller for $103,000, is offered for sale
If a company is considering the purchase of a parcel of land that was originally acquired by the seller for $103,000, is offered for sale at $186,000, is assessed for tax purposes at $113,000, is recognized by the purchaser as easily being worth $176,000, and is purchased for $173,000, the land should be recorded in the purchaser's books at:
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