Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $2,400,000.The building was completely furnished.According to independent appraisals,the fair values were $1,300,000,$780,000,and $520,000 for the building,land,and furniture and fixtures,respectively.The initial values of the building,land,and furniture and fixtures would be:

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The Answer of Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $2,400,000.The building was completely furnished.According to independent appraisals,the fair values were $1,300,000,$780,000,and $520,000 for the building,land,and furniture and fixtures,respectively.The initial values of the building,land,and furniture and fixtures would be:

Simpson and Homer Corporation Acquired an Office Building on Three