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Rangers, Inc. purchased land, buildings and equipment at a lump-sum price of $1,000,000. An appraisal of the assets at the time of acquisition disclosed the

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Rangers, Inc. purchased land, buildings and equipment at a lump-sum price of $1,000,000. An appraisal of the assets at the time of acquisition disclosed the following values: Asset Cost Assigned to Asset Appraised Value $240,000 Land Buildings 600,000 Equipment 360,000 Provide the cost assigned to each asset in the space provided

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