On June 25, Tin Roofing extended an offer of $98,000 for land that had been priced for sale at $111,000. On July 9, Tin Roofing accepted the sellers counteroffer of $106,000. On October 1, the land was assessed at a value of $159,000 for property tax purposes. On December 22, Tin Roofing was offered $170,000 for the land by a national retail chain. At what value should the land be recorded in Tin Roofings records