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Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total...

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Accounting

Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $810,000. The estimated market values of the purchased assets are building, $441,600; land, $326,400; land improvements, $38,400; and four vehicles, $153,600.

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