Pinecrest Cоrpоrаtiоn purchаsed lаnd, a building, and equipment from Hilltop Industries for a lump-sum price of $1,200,000. At the date of acquisition, an independent appraiser determined the following fair values: Asset Fair Value Land $400,000 Building $900,000 Equipment $200,000 Total $1,500,000 In a lump-sum purchase, the company should allocate the total cost among the assets on the basis of their relative fair values. At what amount should Pinecrest record each asset?