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What is the value at which it appears on balance sheet

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Question - Hoya Company purchased 100 acres of land in downtown Atlanta in 1985 for $12 million. The company has hired an appraiser who values the property at $120 million on December 31, 2018. What is the value at which it appears on Hoya's December 31, 2018 balance sheet? Why?

Reference no: EM132819934

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