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What is the acquisition cost of the building

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Question - A real estate management company buys an apartment complex for $4.8 million. An appraiser values the land at $1.1 million, the building at $3.4 million, and the equipment at $0.3 million. In addition, the company pays a 5% commission to a broker for arranging the sale. What is the acquisition cost of the building?

Reference no: EM132800404

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