ABC Corporation purchase land, building, and machinery for a lump-sum amount of $450,000. Based on the market valuation, an independent appraiser indicates that the market values for the land $360,000, Building $240,000, and the equipment is $150,000.

ABC Cor records the cost of the building as:

Select one:

a. $150,000

b. $216,000

c. $240,000

d. $144,000