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Find what value should be allocated to the building

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Reference no: EM132495705

Bowie Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element:

PP&E Element

Amount

Land - $10,000

Building - 25,000

Equipment - 40,000

Question 1: Bowie paid $70,000 cash for the lump sum purchase. What value should be allocated to the building? (Enter only whole dollar values.)

Reference no: EM132495705

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