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Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $2,700,000. The building was completely furnished. According

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Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $2,700,000. The building was completely furnished. According to independent appraisals, the fair values were $760,000, $1,140,000, and $1,900,000 for the building, land, and furniture and fixtures, respectively. The initial values of the building, land, and furniture and fixtures would be a. b. Building Land Fixtures $760,000 $1,140,000 $1,900,000 $540,000 $ 810,000 $1,350,000 $810,000 $ 540,000 $1,350,000 None of these answer choices are correct. C. d. O Option D Option B ho Option A Option Cutter Enterprises purchased equipment for $75,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,300. Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021, would be: $30,000 and $45,000 respectively. $30,000 and $41,700 respectively. $28 80 and $46,020 respectively. $28,680 and $46,320 respectively

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