Short Company purchased land by paying $20,000 cash on the purchase date and agreed to pay $20,000 for each of the next ten years beginning one-year from the purchase date. Short's incremental borrowing rate is 8%. The land reported on the balance sheet is closest to: (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $92,639. $220,000 $200,000 Multiple Choice $92,639. $220,000 $200,000 $154,202