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