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Determining the cost of an asset

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Problem - Determining the cost of an asset - Assume that an asset (land) is acquired for the following consideration:

Cash: $100,000

Shares: 20,000 shares with a market value of $4.00 each

Machinery: Cost $50,000, accumulated depreciation $35,000; fair value $30,000

Required - What is the cost of the land?

Reference no: EM132995373

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