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Junior Ltd acquired 100% of the share capital of Senior Ltd when the carrying value of Senior Ltds plant and machinery was $100 000. The

Junior Ltd acquired 100% of the share capital of Senior Ltd when the carrying value of Senior Ltds plant and machinery was $100 000. The fair value of the plant on acquisition date was $150 000. The company tax rate was 30%. What is the amount of the business combination valuation reserve that must be recognised on consolidation? Select one: $35 000 $50 000 $100 000 $150 000

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