If a company is considering the purchase of a parcel of land that was acquired by the seller for $85,000, is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by the purchaser as easily being worth $140,000, and is purchased for $137,000, the land should be recorded in the purchaser's books at:
A. $137,000.
B. $150,000.
C. $95,000.
D. $140,000.
E. $138,500.
Answer: A
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