A company purchased land on June 1, 2017 for $100,000. At the end 2018, the land is valued at $120,000. The purchasing power of the dollar has decreased by 10%. At what amount would the company report this asset on the statement of financial position at December 31, 2018? A) $120,000 B) $100,000 C) 590.000 D) $108,000