Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,280,000. Harding paid $665,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $703,000; Building, $2,090,000 and Equipment, $1,387,000.

What value will be reported for the building on the balance sheet?

Multiple Choice

$190,000

$2,090,000

$1,140,000

$332,500