a Rocket Retailers is a national retail chain. To entice the company to open a mega store in its jurisdiction, the city of Populationville donated a 20-acre tract of land to be used for construction. The land was originally purchased by the city for $270,000 three years ago. The appraisal value at the time of the donation was $320,000. For what amount should Rocket Retailers record the donated land? 58 Multiple Choice $295,000. $0; Donated assets are not recorded