$32.$ MC$\mathrm{.}09\mathrm{.}66$

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A building with an appraisal value of $$154,000$ is made available at an offer price of $$172,000.$The purchaser acquires the property for $$40,000$ in cash, a $90-$day note payable for $$45,000,$ and a mortgage amounting to $$75,000.$The cost of the building to be reported on the balance sheet is

a$.$ $$172,000$

b$.$ $$154,000$

c$.$ $$120,000$

d$.$ $$160,000$