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How much is the total long-term assets

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Problem 1: The following table summarizes information about some assets of a firm. How much is the total long-term assets?

Asset

                          Expected Life               Balance Sheet Value, in USD

Cash                               -                 $50,000

Accounts Receivable        6 months            $100,000

Accounts Receivable           13 months          $200,000

Machinery                              18 months          $50,000

Building                                    20 years             $100,000

Inventory                                  10 months              $50,000

Prepaid Expenses                           3 months                $50,000

Notes Receivable                           15 months                 $200,000

Equipment                                    24 months                  $100,000

Option 1: $700,000

Option 2: $450,000

Option 3: $650,000

Option 4: $500,000

Reference no: EM132614906

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