Problem 3. Questions 5 and 6. On January 1, 20X1, Enterprises, Inc., purchased a piece of equipment by issuing common stock to the seller. The facts of the transaction are shown below. Number of $1 par value common 83,000 stock Fair value per share $6.00 Value of equipment 575,000 5) What is the cost or value of the equipment on the books at time of purchase if the stock is actively traded on the stock market