Laramie Co. paid $900,000 for a purchase that included land, building, and office furniture. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Land, $150,000, Building, $640,000, and Office Furniture, $210,000. Based on this information the cost that would be allocated to the land is:

(Do not round intermediate calculations.)

Laramie Co. paid $900,000 for a purchase that included land, building, and office furniture. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Land, $150,000, Building, $640,000, and Office Furniture, $210,000. Based on this information the cost that would be allocated to the land is:

(Do not round intermediate calculations.)

$112,500

$166,875

$150,000

$135,000