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QUESTION 40 Henrietta Company purchased a property (including land and building). The company acquired the property in exchange for a 15-year mortgage for $3,600,000. Their
QUESTION 40 Henrietta Company purchased a property (including land and building). The company acquired the property in exchange for a 15-year mortgage for $3,600,000. Their insurance company appraised the components as follows: Land $ 800,000 Building 2,800,000 Parking lot 400,000 What should be the cost basis for the building? OA $2,000,000 B. $2,520,000 OC. $2,422,222 OD. $2,400,000
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