CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN: 9780357110362
Author: Murphy
Publisher: CENGAGE L
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Montu Consultants Corporation obtained a building, its surrounding land, and a computer system in a lump-sum purchase for $375,000. An appraisal set the value of the land at $184,500, the building at $144,000, and the computer system at $121,500. At what amount should Montu Consultants record each new asset on its books? Answer
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