One of many reasons a tangible asset appraisal is performed is to provide support for various types of litigation. In this case, CRS was contracted by a local law firm to determine certain asset values of a mining company as part of a divorce settlement. CRS used asset lists provided by the client, analyzed market sales data and reviewed historical asset acquisition costs to determine an accurate fair market value of heavy machinery and other related mining assets owned by the company.
In addition to providing the fair market value of company assets, the client also asked us to estimate replacement costs for certain assets, which required additional research for comparable assets.
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