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How much should cooper record as the cost of the land

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Question - Cooper Co. issued 5,000 shares of its $5 par value common stock in exchange for a tract of land owned by Wallowitz Inc. Wallowitz had originally listed the land for sale at $165,000. The stock price on the exchange date was $30 per share. How much should Cooper record as the cost of the land?

$165,000

$150,000

$140,000

$125,000

Reference no: EM131822172

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