Question: On January 1 , 2 0 X 9 , Peanuts Corporation acquired 8 0 percent of Schulz Corporation's voting common stock. On that date, Peanuts

On January 1,20X9, Peanuts Corporation acquired 80 percent of Schulz Corporation's voting common stock. On that date, Peanuts had equipment with a book value of $50,000 and a fair value of $200,000. Schulz's buildings and equipment had a book value of $300,000 and a fair value of $300,000 at the time of acquisition. What will be the amount at which buildings and equipment will be reported in consolidated statements immediately following the acquisition?
Group of answer choices
$280,000
$300,000
$340,000
$350,000

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