On June 25, Galiatin flepair Service extended an offer of $101,000 for land that had been priced for sale at $116,000. On July 9, Gatlatin Repair Service accepted the seler's counteroffer of $110,000, On October 1 , the land was assessed at a value of $165,000 for property tox purposes. On December 22 , Gallatin Repair Service was. offered $176,000 for the iand by a national retail chala. At what value should the land be recorded in Gatlatin Repair Service's records