Macon Enterprises purchased land for $2,000,000 in 2001. In 2017, an independent appraiser assessed the value at $3,400,000. What amount should appear on the financial statements in 2017 with respect to the land and what accounting assumption or principle explains why.

	A.	Amount Assumption/Principle $2,000,000 Monetary Unit
	B.	Amount Assumption/Principle $3,400,000 Reliability
	C.	Amount Assumption/Principle $3,400,000 Time Period Assumption
	D.	Amount Assumption/Principle $2,000,000 Cost Principle
	E.	Amount Assumption/Principle $2,700,000 Average Cost