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On January 2, 2017, Scott Company purchased land that cost $640,000, a building on the land that cost $1,190,000, and equipment that cost $63,000. The

On January 2, 2017, Scott Company purchased land that cost $640,000, a building on the land that cost $1,190,000, and equipment that cost $63,000. The building has an estimated useful life of 25 years. The equipment has an estimated useful life of 7 years.

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