In the number 12354.897, the place value of each digit is as follows: the '1' is in the ten-thousands place, the '2' is in the thousands place, the '3' is in the hundreds place, the '5' is in the tens place, and the '4' is in the ones place. After the decimal point, the '8' is in the tenths place, the '9' is in the hundredths place, and the '7' is in the thousandths place.
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