A taxpayer pays $200,000 for real property. The market value of the land and building purchased are $120,000 and $180,000, respectively. The taxpayer's basis in the land and building are:

Question 2 options:

1)	$120,000 and $180,000, respectively.

2)	$180,000 and $120,000, respectively.

3)	$120,000 and $80,000, respectively.

4)	$80,000 and $120,000, respectively.

5)	None of the above.