C Corporation exchanged $20,000$ shares of its nonconvertible preferred shares for land owned by B Corporation. A competing buyer previously had offered $$150,000$ cash for the land. Because of tax consequences, the cash offer was not accepted, and the lot was exchanged for the shares. C Corporation previously had sold only $100$ shares of its preferred shares at $$9$ per share several months ago. Based on the cost principle, at what amount should the land be reported on C$\text{'}$s financial statements?