Ten years ago a corporation purchased a building for $140,000. At that time, the corporation felt that the building was worth $165,000. The current market value of the building is $400,000. The building has been assessed at $375,000 for property tax purposes. At which amount should the corporation record the building in its accounting records?

A.

$375,000

B.

$400,000

C.

$140,000

D.

$165,000