3. Burr Publishers purchased a building on March 20, 20Y1, for $160,000. Other amounts related to this purchase are as follows: Price listed by seller on January 1, 20Y1 $180,000 Burr Publishers' initial offer to buy on January 31, 20Y1 $140,000 Purchase price on March 20, 20Y1 $160,000 Estimated resale price on December 31, 20Y3 $220,000 Assessed value for property taxes, December 31, 20Y3 $190,000 Which of the following amounts should be recorded in the accounting records related to this purchase? a. $220,000 b. $180,000 c. $160,000 d. $140,000