In 1999, the Denim Company bought land that cost $15,000. In 2005, a similar piece of land was bought f $28,000 and the company's existing land was estimated to be worth $18,000. On the balance sheet at the end of 2005, the land that was purchased in 1999 would be reported at: O $18,000. O $28,000. O $15,000. O the average of the three prices Previous Next