Hawkeye Corporation Has Acquired a Property That Included Both Land

question 173

Multiple Choice

Hawkeye Corporation has acquired a property that included both land and a building for $560,000.The corporation hired an appraiser who has determined that the market value of the land is $370,000 and that of the building is $400,000.At what amount should the corporation record the cost of land? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

• A)$408,800
• B)$177,600
• C)$280,000
• D)$268,800