A Company Purchased Property for $100,000

Multiple Choice

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of:

A) $0.
B) $100,000.
C) $35,000.
D) $30,435.
E) $46,087.