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Your client records mortgage backed securities valued at $70,000,000. You develop your own estimate and determine the reasonable range of values to be between $55,000,000


Your client records mortgage backed securities valued at $70,000,000. You develop your own estimate and determine the reasonable range of values to be between $55,000,000 and $65,000,000. However, your work suggests that $55,000,000 is the most defensible balance. Tolerable misstatement for the account is $3,000,000. By what amount would you request management to adjust the mortgage backed securities account balance?

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