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Return to question 13 Pinewood Company purchased two buildings on four acres of land. The lump sum purchase price was $2,700,000. According to independent appraisals, the fair values were $1,260,000 (building A) and $560,000 (building B) for the buildings and $980,000 for the land, 0.61 points Required: Determine the initial valuation of the buildings and the land. Answer is complete but not entirely correct. Initial Asset Valuation Building A $ 1,215,000 Building B 675.000 Land 945.000 Total S 2,835,000