Red Rock Bakery purchases land, building, and equipment for a single purchase price of $340,000 However, the estimated fair values of the land, building, and equipment are $132,000, $264,000, and $44.000, respectively, for a total estimated fair value of $440,000 Required: Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment 16 Answer is not complete. Estimated Fair Value Allocation Percentage Amount of Basket Purchase Recorded Amount S % $ Land Building Equipment Total % 132,000 264.000 44,000 440,000 340,000 340,000 340,000 10 % IS S 0