Shidan Apartments purchased an apartment building to rent to university students on November 18, 2015. The following costs were incurred during 2015, before the tenants moved in:

Purchase price of the building $220,000

Purchase price of the land 100,000

Transfer taxes 10,000

Interest incurred on the mortgage loan to purchase 4,000

Attorney and real estate agent's fees 15,000

Repave the parking lot 6,000

How much will Shidan Apartments record as an asset?

a. $320,000

b. $351,000

c. $355,000

d. $345,000