Mittelstaedt inc., buys 60 percent of the outstanding stock of sherry, inc. sherry owns a piece of land that cost $212,000 but had a fair value of $549,000 at the acquisition date. what value should be attributed to this land in a consolidated balance sheet at the date of takeover?
a) $337,000
b) $421,800
c) $549,000
d) $127,200