If a company is considering the purchase of a parcel of land that was

If a company is considering the purchase of a parcel of land that was acquired by the seller for $98,000, is offered for sale at $176,000, is assessed for tax purposes at $108,000, is recognized by the purchaser as easily being worth $166,000, and is purchased for $163,000, the land should be recorded in the purchaser’s books at: