Price Company acquired 75 percent of the common stock of Shandie Corporation on December 31, 2016. On the date of acquisition, Price held land with a book value of $150,000 and a fair value of $300,000; Shandie held land with a book value of $100,000 and fair value of $500,000

a) $650,000

b) $500,000

c) $550,000

d) $375,000

I know the answer is 650,000 but how do we get to that. It cant be as simple as Fair value of Subsidiary + Book value of parent. There has to be a bigger process right? I just want to make sure I understand this so please show steps.