3) Floyd starts his own business, a barbershop. He owns a building which he used in a previous business that he closed several years ago. He originally purchased the building 20 years ago for $25,000, in the years he operated the previous business, he recorded total depreciation on the building of $8,000. Today when he starts the barbershop, the fair market value of the building is $27,000. What amount should he show the building on the balance sheet of the barbershop business? A) $8,000 B) $17,000 C) $19,000 D) $25,000 E) $27,000