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

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Anaximander

An early Pre-Socratic philosopher from Miletus in Ionia, notable for his work in cosmology, geography, and biology.

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René Descartes, a 17th-century French philosopher, mathematician, and scientist, known for his statement "Cogito, ergo sum" (I think, therefore I am) and his contributions to modern philosophy and the development of rationalism.

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