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?