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What value should be allocated to the building

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Question -  Alpha Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element:

PP&E Element Amount

Land $10,000

Building 20,000

Equipment 30,000

Alpha signed a 3 years, 5%, note in the amount of $72,000 for the lump sum purchase. What value should be allocated to the following? (Enter only whole dollar values.)

1. Land

2. Building

3. Equipment

Reference no: EM131721823

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