Vitalab Manufacturing purchased a building, property, and some equipment from Metals & Tools Inc. for $450,000 cash. Vitalab then had the items appraised for $200,000, $220,000, and $80,000 respectively. The equipment was listed on Metals & Tools’ balance sheet for $75,000. How much should the equipment be recorded at on Vitalab’s balance sheet?
Select one:
a. $75,000
b. $67,500
c. $80,000
d. $72,000
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