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Question 1: Barbarino Corporation purchased land and a building for $1,000,000. An appraisal indicates that the land's market value is $600,000 and the building's market value is $900,000. When recording this transaction Barbarino should debit: (Do not round any intermediary calculations, and round your final answer to the nearest dollar.)
Option A) Land for $600,000.
Option B) Land for $400,000.
Option C) Building for $900,000.
Option D) Building for $1,000,000.
The coefficient of correlation is:
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