Home / Questions / Jake owns The Corner Market which he is trying to sell so thathe can retire and travel. Th
Jake owns The Corner Market which he is trying to sell so thathe can retire and travel. The Corner Market owns the building inwhich it is located. This building was built at a cost of $647,000and is currently appraised at $819,000. The counters and fixturesoriginally cost $148,000 and are currently valued at $65,000. Theinventory is valued on the balance sheet at $319,000 and has aretail market value equal to 1.2 times its cost. Jake expects thestore to collect 98 percent of the $21,700 in accounts receivable.The firm has $26,800 in cash and has total debt of $414,700. Whatis the market value of this firm?
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$857,634 |
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$900,166 |
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$919,000 |
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$1,314,866 |
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$1,333,700 |
Dec 04 2019 View more View Less
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