Two independent companies, Nance Co. and Oslo Co., are in the home building business. Each owns a tract of land held for development, but each would prefer to build on the other's land. They agree to exchange their parcels of land. An appraiser was hired, and from her report and the companies' records, the following information was obtained: Nance's Land Oslo's Land Cost and book value $ 96,000 $ 60,000 Fair value based on appraisal 120,000 105,000 The exchange was made, and based on the difference in appraised fair values, Oslo paid an amount of cash to Nance. The transaction lacks commercial substance. At what amount should Oslo record the land received in the exchange? answer is not 84,000