Short Company purchased land by paying $24,000 cash on the purchase date and agreed to pay $24,000 for each of the next nine years beginning one-year from the purchase date. Short's incremental borrowing rate is 12%. 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.)

$216,000.

$77,892.

$240,000.

$151,878.