[Solved] Riverboat Adventures Pays $310,000 Plus $15,000 in Closing Costs to Buy

Question 164
Multiple Choice

Riverboat Adventures pays $310,000 plus $15,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $35,000, a building appraised at $105,000, and paddleboats appraised at $210,000. Compute the cost that should be allocated to the building.

A) $93,000.
B) $105,000.
C) $97,500.
D) $140,000.
E) $89,178.

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