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Markel Inc. has acquired a parcel of land and a building for a total cost of $750,000 paid with cash. An independent appraisal supports

 

Markel Inc. has acquired a parcel of land and a building for a total cost of $750,000 paid with cash. An independent appraisal supports the fair value of land and building at S160,000 and $640,000 respectively. What is the acquisition cost of building that Markel Inc. should record? $600,000 O $610,000 $590,000 $620,000

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