Question: please help!! Entity I (which follows US GAAP) purchased a commercial building site several years ago for $90,000. A builder recently ollered to purchase the

please help!!

Entity I (which follows US GAAP) purchased a commercial building site several years ago for $90,000. A builder recently ollered to purchase the site for $450,000 in an all-cash deal, but Entity I declined. At what value should the land be reported in Entity Is financial statements? It should not be reported at any value because it is not being used in operations. $360,000 $450,000 because a willing seller has been found. $90.000

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