AFM Holdings Co. purchased 15 acres of land with an office building and warehouse on it for $2,000,000. The assets were appraised at: land $1,000,000, building $600,000, and warehouse $900,000. The assets were carried on the seller's books at: land $800,000, building $500,000, and warehouse $700,000. At what cost should the purchasing company record each of the assets?

Land Building Warehouse

A) $1,000,000 $600,000 $900,000

B) $800,000 $480,000 $720,000

C) $800,000 $500,000 $700,000

D) $1,000,000 $500,000 $500,000