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On November 12, 2021 Curmudgeon Oil company purchases 4 sections of land (2,560 acres) for $2,300 per acre fee simple. Surface rights for similar property

On November 12, 2021 Curmudgeon Oil company purchases 4 sections of land (2,560 acres) for $2,300 per acre fee simple. Surface rights for similar property recently sold for $1,900 per acre. Curmudgeon intends to hold the surface rights as an investment. Record the transaction.

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