Riverboat Adventures pays $370,000 plus $12,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $72,000, a building appraised at $128,000, and paddleboats appraised at $200,000. Compute the cost that should be allocated to the building.
A. $118,400.
B. $186,240.
C. $122,240.
D. $64,000.
E. $128,000.
Answer: C
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Answer the following statement true (T) or false (F)