Donner Company is selling a piece of land adjacent to their business premises.An appraisal reported the market value of the land to be $220,000.The Focus Company initially offered to buy the land for $177,000.The companies settled on a purchase price of $212,000.On the same day, another piece of land on the same block sold for $232,000.Under the cost concept, at what amount should the land be recorded in the accounting records of Focus Company?

a.$177,000

b.$212,000

c.$220,000

d.$232,000