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Chesapeake Company paid $375,000 for a basket purchase that included office furniture, a building and land

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Chesapeake Company paid $375,000 for a basket purchase that included office furniture, a building and land. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Office furniture - $75,000; Building - $320,000, Land - $36,000. Based on this information the amount of cost that would be allocated to the office furniture is:

a.$75,000.

b.$31,323.

c.$278,422.

d.$65,255.