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The city of Maine Creek acquired a used front-end loader from a road contractor for use at the city landfill (which is accounted for in
The city of Maine Creek acquired a used front-end loader from a road contractor for use at the city landfill (which is accounted for in an enterprise fund). The loader had a fair value of $54,000 and a historical cost of $90,000. The city paid the contractor $50,000 for the loader. At what amount should be front-end loader be reported in the government-wide financial statements?
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