Beverly Dalton incorporated her CPA practice 5 years ago. At that time, the corporation purchased land for $40,000. The December 31 of the current year, the market value of the land is $85,000. On the balance sheet for December 31 of the current year, the asset should be reported at under U.S. GAAP. A. $45,000 B. $85,000 C. $40,000 D. $125,000