Frost Enterprises buys a warehouse for $$530,000$ to use for its East Coast distribution operations. On the date of the purchase, a professional appraisa shows a value of $$580,000$ for ine warehouse. The seller had originally purchased the building for $$520,000.$ Frost has a similar warehouse on the Wes Coast that has a book value of $$544,000.$ Under the historical cost principle, Frost should record the building for

A$.$ $$520,000.$

B$.$ $$580,000.$

C$.$ $$530,000.$

D$.$ $$544,000.$