Relative Fair Market Value Continued Use the percentage of each assets market value relative to total market value to divide up the cost: Land 33% x $500,000 = $165,000 Building42% x $500,000 = $210,000 Equipment25% x $500,000 = $125,000 Record the assets as follows: Land165,000 Building210,000 Equipment125,000 Cash500,000 May 2010©Kimberly Lyons 6
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