Pace Corporation acquired 80% of Spin, Inc. At the date of the business combination, the book values of Spin's net assets and liabilities approximated fair value except for inventory, which had a fair value of $60,000, and land, which had a fair value of $50,000. The book value of land for Pace Corporation was estimated at $80,000 immediately prior to the acquisition. At what amount should total land be reported in the consolidated balance sheet prepared immediately after the business combination?

$130,000

$105,000

$115,000

$120,000