Lump-Sum Purchase of Assets and Subsequent Events Dixon Manufacturing purchased, for cash, three large pleces of equipment. Based on recent sales of similar equipment, the fair market values are as follows: Piece 1 $200,000 Piece 2 $200,000 Piece 3 $440,000 Required: 1. What value is assigned to each piece of equipment if the equipment was purchased for (a) $480,000, (b) $680,000, and (e) $800,0007 Hint: First determine the percentage of the cost of each of the pieces of equipment to the total cost of all three pieces, rounded to one decimal place. If necessary, round any allocation calculations to the nearest dollar. Total Purchase Price Piece 1: Cost Piece 2: Cost Plece 3: Cost Scenario Assigned Assigned Assigned a. $480,000 b. $680,000 c. $800,000