P acquired 100% of the shares of S for $580,000. Following is the balance sheet of S on the date acquisition:

	Book Value $	Fair Value $
Inventory	100,000	120,000
Land	50,000	40,000
Building	450,000	510,000
Accounts Payable	150,000	150,000
Common Stock	250,000	-
Retained Earnings	200,000	-

For all other assets of S, the book value will equal to their fair value.

What is the fair value of the net assets of S?

		$510,000
		$580,000
		$ 520,000
		$530,000