actice! Cost Concept Cost Concept On February 3, Obermayer Repair Service extended an offer of $79,000 for land that had been accepted the seller's counteroffer of $86,000. On October 23, the land was assessed at a value of $129.000 for property tax purposes. On January 15 of the next year, priced for sale at $90,000. On February 28, Obermayer Repair Service Obermayer Repair Service was offered $138,000 for the land by a national retail chain. At what value shouid the land be recorded in Obermayer Repair Service's records? Try Anothor Vearsion Submit Anawer