The value that should be saved is $304,000.
Market price or OMV is the fee at which an asset might change in a aggressive public sale setting. Market price means regularly used interchangeably with open marketplace price, honest price or honest marketplace price, even though those phrases have awesome definitions in distinctive standards, and range in a few circumstances.
If a sales employer accepts a few constant asset as a gift, as in line with the Internal Revenue Service and GAAP, then the assets need to be mentioned at Market Value.
On this condition, the marketplace cost is $304,000, so the assets ought to be recorded at $304,000.
From the scenario, we know that
The original cost = $254,000
The land cost = $304,000
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