Nobells Corporation Has Acquired a Property That Included Both Land

Multiple Choice

Nobells Corporation has acquired a property that included both land and a building for $500,000.The corporation hired an appraiser who has determined that the market value of the land to be $300,000 and that of the building is $400,000.At what amount should the corporation record the cost of building?

A) $147,368
B) $285,714
C) $269,125
D) $214,286