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Paul Gibbs bought a pub. The purchase price was $695,000. An appraiser provided the following appraisal values: land $320,000: building $370,000 and equipment $60,000. What

Paul Gibbs bought a pub. The purchase price was $695,000. An appraiser provided the following appraisal values: land $320,000: building $370,000 and equipment $60,000. What cost should be allocated to the land?

a.$296,533

b.$320,000

c.$342,867

d.$695,000

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