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Peach Management owns several apartment complexes throughout the city of Atlanta. It just acquired a new piece of property that has been appraised at $775,000.

Peach Management owns several apartment complexes throughout the city of Atlanta. It just acquired a new piece of property that has been appraised at $775,000. The assets and their values are listed as follows. Asset Value Building $475,000 Furnishings 50,000 Land 150,000 Land improvements 100,000 Total $775,000 Peach Management purchased the property in a foreclosure for $600,000. Create a worksheet (file name BASKET) that will allocate the purchase price among the assets acquired. Review the Model-Building Problem Checklist on page 154 to ensure that your worksheet is complete. Print the worksheet when done. Check figure: Allocated cost of the building, $367,742. Use the following purchase price to test your model: $700,000

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