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Estimate the market values of the assets

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Question: Leland Co. paid $2,100,000 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, $594,000, Building, $880,000, and Office Furniture, $726,000. Based on this information the cost that would be allocated to the land is: (Do not round intermediate calculations.)

$567,000.

$703,787.

$594,000.

$406,620.

Reference no: EM131759915

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