Question 3 A company acquired an office building on three acres of land for a lump-sum price of $2,200,000. The building was completely equipped. According to independent appraisals, the fair values were $1,386,000, $440,000, and $374,000 for the building, land, and equipment, respectively. At what amount would the company record the building? 1,240,000 1,386,000 O 1,660,,000 4 pts 420,000

A company acquired an office building on three acres of land for a lump-sum price of $2,200,000. The building was completely equipped. According to independent appraisals, the fair values were $1,386,000,$440,000, and $374,000 for the building, land, and equipment, respectively. At what amount would the company record the building? 1,240,0001,386,0001,660,000420,000