Harding Corporation Acquired Real Estate That Contained Land, Building and Equipment

Multiple Choice

Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,375,000. Harding paid $700,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $740,000; Building, $2,200,000 and Equipment, $1,460,000.What value will be reported for the land on the balance sheet? (Round intermediate percentage values to a whole percentage. Do not round other intermediate calculations.)

A) $194,900
B) $132,700
C) $187,600
D) $386,900