Laramie Company Has Acquired a Property That Included Both Land

Multiple Choice

Laramie Company has acquired a property that included both land and a building for $500,000.The company hired an appraiser who has determined that the market value of the land is $300,000 and that of the building is $480,000.At what amount should the company record the cost of the building? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar.)

A) $297,600
B) $310,000
C) $250,000
D) $320,000