On May 20, White Repair Service extended an offer of $108,000 for land that had been priced for sale at $140,000. On May 30, White Repair Service accepted the seller’s counteroffer of $115,000. On June 20, the land wasassessed at a value of $95,000 for property tax purposes. On July 4, White Repair Service was offered $150,000for the land by a national retail chain. At what value should the land be recorded in White Repair Service’srecords?
a. $108,000
b. $95,000
c. $140,000
d. $115,000
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