On March 31, Clementine Repair Service extended an offer of $350,000 for land that had been priced for sale at $388,000. On April 15, Clementine Repair Service accepted the seller’s counteroffer of $369,500. On September 9, the land was assessed at a value of $316,000 for property tax purposes. On December 8, Clementine Repair Service was offered $401,000 for the land by a national retail chain. At what value should the land be recorded in Clementine Repair Service’s records?