Savings Mart is a national retail chain. To entice the company to open a mega store in its jurisdiction, the city of Populationville donated a 20-acre tract of land to be used for construction. The land was originally purchased by the city for $284,000 three years ago. The appraisal value at the time of the donation was $334,000. For what amount should Savings Mart record the donated land?

284,000

0 Donated assets are not recorded

309,000

334,000