Martinez Company, a manufacturer of ballet shoes, is experiencing a period of sustained growth. In an effort to expand its production capacity to meet the increased demand for its product, the company recently made several acquisitions of plant and equipment. Rob Joffrey, newly hired in the position of fixed-asset accountant, requested that Danny Nolte, Martinezs controller, review the following transactions. Transaction 1: On June 1, 2020, Martinez Company purchased equipment from Wyandot Corporation. Martinez issued a $30,400, 4-year, zero-interest-bearing note to Wyandot for the new equipment. Martinez will pay off the note in four equal installments due at the end of each of the next 4 years. At the date of the transaction, the prevailing market rate of interest for obligations of this nature was 9%. Freight costs of $456 and installation costs of $470 were incurred in completing this transaction. The appropriate factors for the time value of money at a 9% rate of interest are given below.

Future value of $1 for 4 periods		1.41
Future value of an ordinary annuity for 4 periods		4.57
Present value of $1 for 4 periods		0.71
Present value of an ordinary annuity for 4 periods		3.24

Transaction 2: On December 1, 2020, Martinez Company purchased several assets of Yakima Shoes Inc., a small shoe manufacturer whose owner was retiring. The purchase amounted to $205,000 and included the assets listed below. Martinez Company engaged the services of Tennyson Appraisal Inc., an independent appraiser, to determine the fair values of the assets which are also presented below.

		Yakima Book Value				Fair Value
Inventory			$63,400			$55,000
Land			36,400			85,000
Buildings			66,500			110,000
			$166,300			$250,000

During its fiscal year ended May 31, 2021, Martinez incurred $8,240 for interest expense in connection with the financing of these assets. Transaction 3: On March 1, 2021, Martinez Company exchanged a number of used trucks plus cash for vacant land adjacent to its plant site. (The exchange has commercial substance.) Martinez intends to use the land for a parking lot. The trucks had a combined book value of $34,650, as Martinez had recorded $21,900 of accumulated depreciation against these assets. Martinezs purchasing agent, who has had previous dealings in the secondhand market, indicated that the trucks had a fair value of $42,670 at the time of the transaction. In addition to the trucks, Martinez Company paid $18,540 cash for the land. (b) For each of the three transactions described above, determine the value at which Martinez Company should record the acquired assets. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places e.g. 58,971.)

		Value
Transaction 1		$
Transaction 2
Inventory		$
Land		$
Building		$
Transaction 3		$