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On May 19, Gallatin Repair Service extended an offer of $144, 000 for land that had been priced for sale at $ 165, 000. On

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On May 19, Gallatin Repair Service extended an offer of $144, 000 for land that had been priced for sale at $ 165, 000. On June 4, Gallatin Repair service accepted the seller's counter offer of $ 157, 000. On October 10, the land was assessed at a value of $236, 000 for property tax purposes. On February 5 of the next year, Gallatin Repair service was offered $252, 000 for the land by a national retail chain. At what value should the land be recorded in Gallatin Repair Service's records

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