A hardware company decides to purchase land next to its curr…
A hardware company decides to purchase land next to its current property in order to expand its carpeting and cabinet operation. Instead of paying cash for the land, it issues {x} no par value common shares to the seller. If no fair value can be reliably determined for the land, and the company’s shares have been recently traded with a fair value of ${y} per share, what is the value of the land?