If a company is considering the purchase of a parcel of land that was acquired by the seller for $103,000 is offered for sale at $186,000, is assessed for tax purposes at $113,000, is considered by the purchaser as easily being worth $176,000, and is purchased for $173,000, the land should be recorded in the purchaser's books at:
A. $173,000.
B. $174,500.
C. $186,000.
D. $113,000.
E. $176,000.
Answer: A
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