Question 2 Incorrect Mark 0.00 out of 4.00 P Flag question Allocation of Package Purchase Price Andrew Lupino went into business by purchasing a car lubrication station consisting of land, a building, and equipment. The seller's original asking price was 5210,000. Lupino hired an appraiser for $2,000 to appraise the assets. The appraised valuations were: Property Land Building Equipment Total Assessed Value $38.000 95,000 57,000 $190,000 After receiving the appraisal, Lupino offered $177,000 for the business. The seller refused this offer. Lupino then offered $187,000 for the business, which the seller accepted. Using the appraisal values as a guide, allocate the total purchase price of the car lubrication station to the Land, Building and Equipment accounts. Allocation of Asset Purchase Price Land $ 38,400 X Building 96,000 X Equipment 57,600 x Total $ 192,000 X Check