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Question 1 (20 marks) On January 1, 2017, Pepper purchased 75% of the outstanding shares of Salt for $1,275,000. At that time, Salt's assets and

Question 1 (20 marks) On January 1, 2017, Pepper purchased 75% of the outstanding shares of Salt for $1,275,000. At that time, Salt's assets and liabilities had the following book and fair values.

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