Mike, Jack, and William shared profits and losses of 20%, 40%, and 40% respectively, and their partnership capital balance is $10,000, $30,000, and $50,000 respectively. Mike has decided to withdraw from the partnership. An appraisal of the business and its property estimates the fair value to be $200,000. Land with a book value of $30,000 has a fair value of $45,000. Mike has agreed to receive $20,000 in exchange for his partnership interest. At which amount should the land be recorded on the partnership books?