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Ramona purchases an acre of real estate for $20,000,000. The real estate purchase includes the following assets and their corresponding fair market value: Land: $12,000,000

Ramona purchases an acre of real estate for $20,000,000. The real estate purchase includes the following assets and their corresponding fair market value:

  • Land: $12,000,000
  • Building: $9,000,000
  • Gazebo: $9,000,000

What is the amount of Ramonas initial basis for the building?

Group of answer choices

$6,000,000

$9,000,000

$15,000,000

$20,000,000

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