Acme Purchased a Property That Included Both Land and a Building

question 149

Multiple Choice

Acme purchased a property that included both land and a building for $200 000. Acme hired an appraiser who determined that the market value of the land was $140 000 and the market value of the building was $50 000. At what amount should Acme record the land cost?

• A)$200 000
• B)$140 000
• C)$52 632
• D)$147 368

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