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On June 25, Tin Roofing extended an offer of $73,000 forland that had been priced for sale at $83,000. On July 9, Tin Roofing accepted

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On June 25, Tin Roofing extended an offer of $73,000 forland that had been priced for sale at $83,000. On July 9, Tin Roofing accepted the seller's counteroffer of $79,000. On October 1, the land was assessed at a value of $119,000 for property tax purposes. On December 22 , Tin Roofing was offered $126,000 for the land by a nationsl retail chain. At what value shouid the land be recorded in Tin Roofing's records

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