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Determine the initial valuation of the buildings and land

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Question - Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $1,300,000. According to independent appraisals, the fair values were $630,000 (building A) and $280,000 (building B) for the buildings and $490,000 for the land. Determine the initial valuation of the buildings and the land.

Reference no: EM133183663

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