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Donner company is selling a piece of land adjacent to their business

Accounting

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Donner company is selling a piece of land adjacent to their business. An appraisal reported the market value of the land to be $190,000. The Focus Company initially offered to buy the land for $165,000. The companies settled on a purchase price of $175,000. On the same day, another of land on the same block sold for $180,000. Under the cost concept, what is the amount that Focus will use to record this transaction in their accounting records? a. $175,000 b. $180,000 c. $165,000 d. $190,000