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Company has one factory making whizzo's which they sell to the general public. Company bought the factory 5 years ago paying $40 million. .

Company has one factory making "whizzo's" which they sell to the general public. Company bought the factory 5 years ago paying $40 million. . The FMV (fair market value) of the factory is now $55 million. Company insures the factory for $60 million. Which amount should Company report as the "value" of the factory?

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