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Nichols Enterprises Has an Investment in 25,000 Shares of Elliott

question 50

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Nichols Enterprises has an investment in 25,000 shares of Elliott Electronics that Nichols accounts for as a security available for sale.Elliott shares are publicly traded on the New York Stock Exchange,and The Wall Street Journal quotes a price for those shares of $10 a share,but Nichols believes the market has not appreciated the full value of the Elliott shares and that a more accurate price is $12 a share.Nichols should carry the Elliott investment on its balance sheet at:

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