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Question
Kansas Company acquired a building valued at $210,000 for property tax purposes in exchange for 12,000 shares of its $5 par common stock. The stock is widely traded and selling for $15 per share. At what amount should the building be recorded by Kansas Company?
a. $60,000
b. $180,000
c. $210,000
d. $120,000
Answer
This answer is hidden. It contains 1 characters.
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