Illustrate at what amount will the building be recorded

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Patti and Pam are forming a partnership. Patti will invest a piece of equipment with a book value of $6,068 and a fair market value of $11,522. Pam will invest a building with a book value of $39,286 and a fair market value of $75,432.

At what amount will the building be recorded?

Reference no: EM13143078

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