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At what amount should the building be recorded by Kansas

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Reference no: EM133052455

Question - Kansas Company acquired a building valued at $153,000 for property tax purposes in exchange for 12,000 shares of its $7 par common stock. The stock is widely traded and sells for $16 per share. At what amount should the building be recorded by Kansas Company?

a. $107,500

b. $84,000

c. $153,000

d. $192,000

Reference no: EM133052455

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