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On September 12 of Year 1, Jackson Company purchased land, a building, and some equipment for a total price of $450,000. The land, building, and

On September 12 of Year 1, Jackson Company purchased land, a building, and some equipment for a total price of $450,000. The land, building, and equipment were appraised at $240,000, $180,000, and $80,000, respectively. At what amount should Jackson Company record the building?

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