At what amount the land be carried on bravo books today, Accounting Basics

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At what amount the land be carried on bravo books today

Problem: Eight years ago, Bravo Company purchased land for $170, 000. The current fair market value of the land is $421,000. The rate of general inflation experienced during the 8-year period has averaged 10% per year. At the time the land was purchased, Bravo intended to hold it for 20 years. At what amount should the land be carried on Bravo's books today?

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Accounting Basics: At what amount the land be carried on bravo books today

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