QUESTION $3$

Budget Company just bought a piece of land for $$25,000.$ What a deal! The land next door was sold last month for $$30,000.$ Budget immediately put the land back on the market for $$31,000,$ but so far hasn't had any offers. This land would appear on Budget's Company's balance sheet at a value of

A$.$ nothing, because the land would be reported on the income statement, not the balance sheet

B$.$ $$29,000$

C$.$ $$25,000$

D$.$ $$27,000$