Anderson Company purchased land and a building for $860,000. An appraisal was obtained that indicated that the land was worth $250,000 and the building was worth $750,000. What amount of the purchase price should Anderson Company allocate to the land and the building? a) Land $250,000; building $750,000 b) Land $250,000; building $610,000 c) Land $110,000; building $750,000 d) Land $215,000; building $645,000