On June 1, 2019, Turner Corporation purchased land, a building, and some equipment for $540,000. The following information is available concerning the property purchased: Current Market Value Land ....................... 142,500 Building ................... 262,200 Equipment .................. 165,300 Before the property could be used, Turner had to spend $26,000 to renovate the building and $14,000 to put the equipment in working order. Calculate the cost assigned to the building.