When HEC prepares the journal entry to record the transaction, which of the following describes how the property should be valued?

Question $22$ options:

a$)$

The combined value of assets received by HEC $($cash and recreational property$)$ will be recorded based on the fair value of the grader given up $($$$96,000)$; therefore, the land and building will be valued at $$81,000$ total $($$$96,00015,000$ cash$).$

b$)$

The combined value of assets received by HEC $($cash and recreational property$)$ will be recorded based on the carrying value of the grader given up $($$$84,000)$ less cash received; therefore, the land and building will be valued at $$69,000$ total $($$$84,000$ $$15,000$ cash$).$

c$)$

The combined value of assets received by HEC $($cash and recreational property$)$ will be recorded based on the fair value of the property received $($$$90,000).$

d$)$

The combined value of assets received by HEC $($cash and recreational property$)$ will be recorded at the value of the cash received only.