On january 1, 2016, mckeown, inc., issued $300,000 of 6%, 9-year bonds for $262,022, yielding a market (yield) rate of 8%. semiannual interest is payable on june 30 and december 31 of each year.

land, a building and equipment are acquired for a lump sum of $ 1,000,000. the market values of the land, building and equipment are $ 300,000, $ 800,000 and $ 300,000, respectively. what is the cost assigned to the equipment? (do not round any intermediary calculations, and round your final answer to the nearest dollar.)