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On January 2, 2017 Cornwall Corporation acquired 35% of the voting stock of Kingston Company for $4,000,000 in cash, when Kingston's total book value was

On January 2, 2017 Cornwall Corporation acquired 35% of the voting stock of Kingston Company for $4,000,000 in cash, when Kingston's total book value was $20,000,000. The basis difference was attribu...

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