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On January1,2016,Pultesolda building to its wholly owned subsidiary, Scott, for $2,314,565.On that date, Pultecarried the building on its books at an original cost of $925,193
On January1,2016,Pultesolda building to its wholly owned subsidiary, Scott, for $2,314,565.On that date, Pultecarried the building on its books at an original cost of $925,193 and accumulated depreciation of $252,438.Pultehad estimated 7 years total useful life for the building, and was depreciating it on a straight-line basis with $173,417 estimated salvage value.
What net book value for this building should be reported on Pulte'sconsolidated balance sheet as of 12/31/2016?
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