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10pIc 10: Acquisition of Property, Plant and Equipment
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Riverboat Adventures pays $310,000 plus $15,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $35,000, a building appraised at $105,000, and paddleboats appraised at $210,000. Compute the cost that should be allocated to the building.
Select one:
a. $97,500.
b. $105,000.
c. $89,178.
d. $140,000.
e. $93,000.
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