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Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum...

Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $2,450,000. The building was completely furnished. According to independent appraisals, the fair values were $840,000, $840,000, and $1,120,000 for the building, land, and furniture and fixtures, respectively. The initial values of the building, land, and furniture and fixtures would be:

Building Land Fixtures
a. $ 840,000​ $ 840,000​ $ 1,120,000​
b. $ 735,000​ $ 735,000​ $ 980,000​
c. $ 735,000​ $ 735,000​ $ 980,000​
d. None of these answer choices are correct.
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Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $2,450,000.

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