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What the amount of cost that would be allocated to office

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Reference no: EM132861541

Question 1: Chesapeake Company paid $375,000 for a basket purchase that included office furniture, a building and land. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Office furniture - $75,000; Building - $320,000, Land - $36,000. Based on this information the amount of cost that would be allocated to the office furniture is:

a. $75,000.
b. $31,323.
c. $278,422.
d. $65,255.

Reference no: EM132861541

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