Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,045,000. Harding paid $210,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $222,000; Building, $660,000 and Equipment, $438,000.

What value will be recorded for the building?

a) $385,000

b) $660,000

c) $105,000

D) $522,500