Sammy Corporation acquired an office building on two acres of land for a lump-sum price...

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Accounting

Sammy Corporation acquired an office building on two acres of land for a lump-sum price of $800,000. The building was completely furnished. According to independent appraisals, the fair values were $500,000, $300,000, and $200,000 for the building, land, and furniture, respectively. What should be the amount of initial value for the land?

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