Dunne Inc Bought 65% of the Outstanding Common Stock of Hardy

Multiple Choice

Dunne Inc. bought 65% of the outstanding common stock of Hardy Inc. in an acquisition that resulted in the recognition of goodwill. Hardy owned a piece of land that cost $375,000 but was worth $700,000 at the date of acquisition. What value would be attributed to this land in a consolidated balance sheet at the date of acquisition?

A) $245,000.
B) $325,000.
C) $375,000.
D) $455,000.
E) $700,000.