A building with an appraisal value of $127,634 is made available at an offer price of $151,501. The purchaser acquires the property for $31,954 in cash, a 90-day note payable for $21,516, and a mortgage amounting to $54,195. The cost basis recorded in the buyer's accounting records to recognize this purchase is

a.$127,634

b.$119,547

c.$107,665

d.$151,501