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Find what amount would be allocated to the equipment

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Gome Inc. purchased several assets in a basket for $2987299. An independent appraisal of the fair value of the assets is listed below:

A parcel of Land - $1,150,000
Factory Plant - $2,250,000
Equipment - $880,000
Automobiles - $120,000

Problem 1: Gome Inc. uses the relative fair values method to allocates the purchase price. What amount would be allocated to the Equipment?

Reference no: EM132758806

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