racking Inc. purchased a building for $2300000. the appraisers determined that the land the building was on should be valued at $950000, the building at $600000 and the equipment at $350000, which of the following statement is correct?

1. racking inc. should record only the appraised value of the assets.

2. racking inc, needs to record goodwill of $400000

3. racking inc, paid too much for the business and needs to record a loss