Bailey, Inc., buys 60 percent ot the outstanding stock of Luebs. Inc., in an acquisition that resulted in the recognition of goodwill. Luebs owns a piece of land that cost $200,000 but was worth $500,000 at the acquisition date. What value should be attributed to this land in a consolidated bal¬ ance sheet at the date of takeover?

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a. $120,000.

b. $300,000.

c. $380,000.

d. $500,000.