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What value should be allocated to the building

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Bowie 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                         $15,000

Building                        25,000

Equipment                        40,000

Question 1: Bowie paid $65,000 cash for the lump sum purchase. What value should be allocated to the building? (Enter only whole dollar values.)

Reference no: EM132488436

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