Skykid Aircraft Dealership, a company that buys and resells used aircraft, purchased a Cessna 421 airplane for $350,000 on January 15, 2022. Unfortunately, market demand for this model declined because a structural problem was identified with wing spars used in this aircraft. The decline in value is expected to be long-lasting because owners of Cessna 421 aircraft will incur significant costs to repair the defect. An independent appraiser opined that the aircraft's fair market value was $200,000 as of December 31, 2022. At what amount should this aircraft be reflected in the company's December 31, 2022 balance sheet