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What value will be recorded for the building

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Question - Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $1,425,000. Harding paid $350,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $370,000; Building, $1,100,000 and Equipment, $730,000.

What value will be recorded for the building?

1,100,000

325,000

175,000

712,500

Reference no: EM131976523

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