Galford Company purchased real estate for $480,000, plus closing costs and fees of $60,000. The property which included land, building, and land improvements was appraised for $600,000, as follows:

Building	$300,000
Land	180,000
Land improvements	120,000

The asset Building should be reported on Galford's balance sheet at a value of

A)$240,000

B)$200,000

C)$270,000

D)$300,000