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Compute the cost that would be allocated to the land

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Question - Laramie Company paid $500,000 for a purchase that included land, building, and office furniture. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Land, $66,000, Building, $432,000, and Office Furniture, $102,000. Based on this information compute the cost that would be allocated to the land?

Reference no: EM132753859

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