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When Havana Co. acquired 80% of the common stock of Iguana Corp., Iguana owned land with a book value of $75,000 and a fair value

When Havana Co. acquired 80% of the common stock of Iguana Corp., Iguana owned land with a book value of $75,000 and a fair value of $125,000. What is the total amount of excess land allocation at the acquisition date?

A) $0. B) $40,000. C) $50,000. D) $60,000. E) $75,000.

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When Havana Co. acquired 80% of the common stock of Iguana Corp., Iguana owned land with a book value of $75,000 and a fair value

When Havana Co. acquired 80% of the common stock of Iguana Corp., Iguana owned land with a book value of $75,000 and a fair value of $125,000. What is the total amount of excess land allocation at the acquisition date? A) $0. B) $40,000. C) $50,000. D) $60,000. E) $75,000.

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When Havana Co. acquired 80% of the common stock of Iguana Corp., Iguana owned land with a book value of $75,000 and a fair value of $125,000. What is the total amount of excess land allocation at the acquisition date?

A) $0. B) $40,000. C) $50,000. D) $60,000. E) $75,000.