Domenico Enterprises purchased land for $$2,000,000$ in $1999.$ In $2021,$ an independent appraiser assessed the value at $$4,400,000.$ What amount should appear on the financial statements in $2021$ with respect to the land?

Question $3$ options:

a$)$

$$2,000,000$

b$)$

Whatever amount the company believes is the best indicator of the true value of the land.

c$)$

$$2,400,000$

d$)$

$$4,400,000$