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Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $1,700,000....

Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $1,700,000. According to independent appraisals, the fair values were $810,000 (building A) and $360,000 (building B) for the buildings and $630,000 for the land.

Determine the initial valuation of the buildings and the land.

Building A

Building B

Land

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