Ryan Corporation made a basket purchase of three items. Item A was appraised at $35,000; item B was appraised at $55,000 and item C was appraised at $60,000. The purchase price was $125,000. At what percentage of purchase price should item C be recorded? At what amount should item C be recorded at (rounded to the nearest dollar)?

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The Answer of Ryan Corporation made a basket purchase of three items. Item A was appraised at $35,000; item B was appraised at $55,000 and item C was appraised at $60,000. The purchase price was $125,000. At what percentage of purchase price should item C be recorded? At what amount should item C be recorded at (rounded to the nearest dollar)?

Ryan Corporation Made a Basket Purchase of Three Items