On June 25, McCade Repair Service extended an offer of $144,000 for land that had been priced for sale at $165,000, On July 9, McCade Repair Service accepted the seller's counteroffer of $157,000. On October 1, the land was assessed at a value of $236,000 for property tax purposes. On December 22, MeCade Repsir Service was offered $251,000 for the land by a national retall chain. At what value should the land be recorded in McCade Repair Service's records