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On January 1, 20X1, Spinn Coffee Company (the buyer) purchased a piece of equipment by issuing stock to the seller as noted below Number

On January 1, 20X1, Spinn Coffee Company (the buyer) purchased a piece of equipment by issuing stock to the seller as noted below Number of $1 par value common stock Fair value per share 10,000 $15.00 If the stock is actively traded on the stock market, what is the cost or value of the equipment recorded by Spinn at time of purchase? Numeric Response

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