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Cost Concept On May 19, McCade Repair Service extended an offer of $90,000 for land that had been prices for sale at $100,000. On June

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Cost Concept On May 19, McCade Repair Service extended an offer of $90,000 for land that had been prices for sale at $100,000. On June 4, McCade Repair Service accepted the seller's counteroffer of $98,000. On October 10, the land was assessed at a value of $147,000 for property tax purposes. On February 5 of th next year, McCade Repair Service was offered $157,000 for the land by a national retail chain At what value should the land be recorded in McCode Repair Service's records

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