On 1/1/2019,W Co.issued 100,000 shares of its $10 par value common stock for the net assets of P co. in a business combination accounted for by the acquisition method. The market value of W CO common stock on 1/1 was $20 per share.W CO paid a fee of $80,000 to the consultant who arranged this acquisition.Costs of registering and issuing the equity securities amounted to $40,000.No goodwill was involved in the purchase.What amount should W CO record the cost of acquiring P net assets?

Select one:

a. 2,040,000

b. 2,080,000

c. 2,120,000

d. 2,000,000