Midyear on July 31st, the Baldwin Corporation's balance sheet reported: Total Liabilities of $77.212 million Total Common Stock of $3.810 million Cash of $6.030 million Retained Earnings of $28.304 million. What were the Baldwin Corporation's total assets?

Select: 1

$103.296 million

$109.326 million

$51.128 million

$54.938 million

The Chester Company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,090,000. What will the book value of this purchase (exclude all other plant and equipment) be after its third year of use? (Use FASB GAAP)

Select: 1

	$32,720,000
	$35,446,667
	$29,448,000
	$33,538,000