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Determine the amounts fullerton should capitalize

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1. Refer to the situation described in BE 10-2. Assume that Fullerton decides to use the warehouse rather than demolish it. An independent appraisal estimates the fair values of the land and warehouse at $420,000 and $280,000, respectively. Determine the amounts Fullerton should capitalize as the cost of the land and the building. 

Reference no: EM13999495

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