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While developing a new product line, Cook Company spent $3 million two years ago to build a plant for a new product. It then decided
While developing a new product line, Cook Company spent $3 million two years ago to build a plant for a new product. It then decided not to go forward with the project, so the building is available for sale or for a new product. Cook owns the building free and clear there is no mortgage on it. Which of the following statements is CORRECT?
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