Chris Deli purchased property with a building and parking lot for $1,700,000. An appraiser valued the components
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Chris Deli purchased property with a building and parking lot for $1,700,000. An appraiser valued the components of the property if purchased separately as follows:
Land …………………………………… $ 600,000
Land improvements …………………… 300,000
Building ……………………………….. 900,000
Total …………………………………… $1,800,000
Determine the cost to be assigned to each component.
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