Riverboat Adventures Pays $310,000 Plus $15,000 in Closing Costs to Buy

Multiple Choice

Riverboat Adventures pays $310,000 plus $15,000 in closing costs to buy out a competitor.The real estate consists of land appraised at $35,000,a building appraised at $105,000,and paddleboats appraised at $210,000.Compute the cost that should be allocated to the land.

A) $93,000.
B) $140,000.
C) $32,500.
D) $31,000.
E) $97,500.