Answer:
The amount that the company would record for building would be $1,200,000.
Explanation:
We can allocate the fair values as follows:
Particulars      Fair value      Allocated amount
                (a)         (b) = (a)/Total*$2.4m
Building        $1,300,000      $1,200,000
Land          $780,000          720,000
Equipment     $520,000          480,000
Total          $2,600,000      $2,400,000
The amount that the company would record for building would be $1,200,000.
