A building with an appraisal value of $126,701 is made available at an offer price of $156,056. The purchaser acquires the property for $34,972 in cash, a 90-day note payable for $27,683, and a mortgage amounting to $53,907. The cost basis recorded in the buyer's accounting records to recognize this purchase is

a.$116,562

b.$156,056

c.$121,084

d.$126,701