Island, Inc. made a basket purchase involving four assets. Their market values were A: $50,000; B: $46,000 C: $48,000; and D: $56,000. The price Island paid for the four assets was $145,000. To the nearest dollar, what final price will be recorded for asset D? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)
A) $1,000
B) $34,800
C) $56,000
D) $40,600
D) $40,600
Explanation: market value for D/total market values A, B, C, D] × purchase price; ex: [$56,000 / ($50,000 + $46,000 + $48,000 + $56,000)] × $145,000 = $40,600
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