16) Millburn Company has acquired a property that included both land and a building for $530,000 The company hired an appraiser who has determined that the market value of the land is $320,000 and that of the building is $480,000. At what amount should the company record the cost of land? (Round any intermediate calculations to two decimal places, and your final answer to the nearest r. A $265,000 349,800 c) $128,000 12,000