Use the Following Information to Answer Questions 97 & 98

question 61

Multiple Choice

Use the following information to answer questions 97 & 98.
Jamison Company purchased the assets of Booker Company at an auction for $4,200,000. An independent appraisal of the fair value of the assets is listed below:
Land .........$1,425,000
Building .....2,100,000
Equipment ...1,575,000
Trucks ..........2,550,000
-Assuming that specific identification costs are impracticable and that Jamison allocates the purchase price on the basis of the relative fair values, what amount would be allocated to the Trucks?

• A) $1,400,000
• B) $2,100,000
• C) $2,520,000
• D) $2,550,000

---

Definitions:

Popular Vote

The total number or percentage of votes cast by voters in an election, as opposed to the electoral vote in systems like that of the United States.

Utah

Utah is a state located in the western United States, known for its vast expanses of desert and the Wasatch Range mountains. It is also renowned for its significant Mormon history and as a center for outdoor recreational activities.

Union

A political term that can refer to a united group of states (such as the United States) or to labor unions, which are organizations formed to protect and advance the rights and interests of workers.

Polygamy

A marital practice in which an individual has more than one spouse simultaneously.