Question 1 1 pts Sage just purchased a hotel in the city for $6,397,000 for her business. The hotel would have cost $4,448,000 five years ago. Sage had planned to purchase the hotel for the last five years. At which amount should Sage report the building on a Balance Sheet prepared in accordance with GAAP (Generally Accepted Accounting Principles)? Either amount is acceptable under GAAP $4,448,000 because Sage had intentions of purchasing the property five years ago $6,397,000 because Sage paid $6,397,000 for the hotel A fairly determined amount between $4,448,000 and $6,397,000