Multiple Choice
Kansas Company acquired a building valued at $210,000 for property tax purposes in exchange for 12,000 shares of its $5 par common stock. The stock is widely traded and sold for $15 per share. At what amount should the building be recorded by Kansas Company?
A) $60,000
B) $180,000
C) $210,000
D) $120,000
Correct Answer:
Verified
Correct Answer:
Verified
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