Braxwell Corporation acquired the following assets associated with a manufacturing facility for a lump-sum price...
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Accounting
Braxwell Corporation acquired the following assets associated with a manufacturing facility for a lump-sum price of $9,000,000. According to independent appraisals, the fair values were $4,000,000, $2,000,000, $3,000,000, and $1,000,000 for the building, patent, land, and equipment, respectively. The initial value of the patent would be:
Multiple Choice
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$2,000,000.
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$2,250,000.
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$1,800,000.
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$0.
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