A building with an appraisal value of $133,477 is made available at an offer price of $151,439. The purchaser acquires the property for $36,794 in cash, a 90-day note payable for $29,053, and a mortgage amounting to $57,624. The cost basis recorded in the buyer's accounting records to recognize this purchase is

a. $151,439

b. $114,645

c. $133,477

d. $123,471