Question - Riverboat Adventures pays $470,000 plus $18,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $50,000, a building appraised at $170,000, and paddleboats appraised at $280,000. Compute the cost that should be allocated to the building.
$170,000.
$165,920.
$261,120.
$74,800.
$159,800.