9 The City of Manford donated land to XYZ Corporation. Manford's book value of the land was $400,000 at the time of the transfer. The land was appraised for property tax purposes at $500,000. A similar parcel of land recently sold for $600,000.XYZ will likely show the donated land on its books at: Multiple Choice $400,000 $600,000 $500,000 $0