Question: Dorsey Co. has expanded its operations by purchasing a parcel of land with a building on it from Bibb Co. for $90,000. The appraised value

Dorsey Co. has expanded its operations by purchasing a parcel of land with a building on it from Bibb Co. for $90,000. The appraised value of the land is $24,000, and the appraised value of the building is $101,000.

a. Assuming that the building is to be used in Dorsey Co.s business activities, what cost should be recorded for the land? (Do not round intermediate calculations.)

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