Question 4

Suppose a company purchased land and a building for $16545663 cash. The appraised value of the building was $12872190, and the land was appraised at $7036613.

What dollar amount of the purchase price will be allocated to the Building account?

*Note: for calculations, round to nearest whole percentage before calculating the allocation of the purchase price (i.e., if percentage calculates out to be 0.249, then round up to 25%)*