Question 3 Forest Company paid $38,000,000 for a warehouse and related assets from a company that was in bankruptcy. The warehouse includes land, building, moving equipment, and heating/ventilation/air conditioning (HVAC) system. An independent appraiser valued these items individually as follows: PPE category Appraised value Land $10,400,000 Building 23,400,000 Moving equipment 3.900.000 HVAC system 14.300.000 Total $52.000.000 Required: Allocate the purchase price among the assets acquired