How should the recorded amounts of the land and the building be calculated? Multiple choice a. The building should be recorded at its fair market value, and the rest of the cost should be applied to the land. b. The fair market value percentages of the land and building should be applied to the total cost to determine at what amounts both the land and building should be recorded. c. The land should be recorded at its fair market value, and the rest of the cost should be applied to the building. d. It is impossible to tell the amounts at which the land and building should be recorded because there is insufficient information