The city of Anchorage sold the land for its appraised value to the Big Bear Oil Company on June 1, 2014, that originally cost the city $950,000 On June 1, 2014, the land was appraised at a value of $1,400,000, and on December 31, 2014, the land's value was estimated to be $1,450,000 On Big Bear Oil Company's balance sheet at December 31, 2014, the land should be valued at.