(Solution) - On February 7 AAA Repair Service extended an offer of -(2025 Original AI-Free Solution)

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On February 7, AAA Repair Service extended an offer of $50,000 for land that had been priced for sale at $65,000. On February 21, AAA Repair Service accepted the seller?s counteroffer of $57,500. On April 30, the land was assessed at a value of $40,000 for property tax purposes. On August 30, AAA Repair Service was offered $90,000 for the land by a national retail chain. At what value should the land be recorded in AAA Repair Service?s records?