On June 25, Obermayer Repair Service extended an offer of $90,000 for land that had been priced for sale at $103,000

CONCEPTS IN FED.TAX.,2020-W/ACCESS
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ISBN:9780357110362
Author:Murphy
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Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
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On June 25, Obermayer Repair Service extended an offer of $90,000 for land that had been priced for sale at $103,000. On July 9, Obermayer Repair Service accepted the seller's counteroffer of $98,000. On October 1, the land was assessed at a value of $147,000 for property tax purposes. On December 22, Obermayer Repair Service was offered $157,000 for the land by a national retail chain.

At what value should the land be recorded in Obermayer Repair Service's records?
$fill in the blank 

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