Use the Following Information to Answer Questions

Multiple Choice

Use the following information to answer questions
On February 1, 2010, Consolidated Department Stores purchased the assets of Jackson Department Store for $750,000. Following are the book and fair market values of those assets at the time of acquisition:

-Consolidated should recognize the cost of the land as

A) $350,000
B) $328,125
C) $225,000
D) $187,500
E) $100,000