Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $2,400,000. The building was completely furnished. According to independent appraisals, the fair values were $1,300,000, $780,000, and $520,000 for the building, land, and furniture and fixtures, respectively. The initial values of the building, land, and furniture and fixtures in the general ledger would be: Hint- this is a basket purchase of PP&E, not the purchase of a business. (No goodwill is involved.) 1. $1,300,000, $780,000, $520,000. a. b. $1,200,000, $720,000, $480,000. C. $720,000, $1,200,000, $480,000. d. None of these