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  3. in exchange for stock valued at $3,000,000, mune c

In exchange for stock valued at $3,000,000, Mune company received assets with the following fair...

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Accounting

In exchange for stock valued at $3,000,000, Mune company received assets with the following fair values. The stock price is considered the most reliable measure of fair value. Allocate the total stock price to the assets on a proportional basis.

Fair Value

Asset 1 - $1,500,000

Asset 2 - $1,200,000

Asset 3 - $800,000

Allocated price for asset 3 is ___________

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