Macon Enterprises Purchased Land for $2,000,000 in 2001

Macon Enterprises purchased land for $2,000,000 in 2001.In 2015, an independent appraiser assessed the value at
$3,400,000.What amount should appear on the financial statements in 2015 with respect to the land?

A) $2,000,000
B) $1,400,000
C) $3,400,000
D) Whatever amount the company believes is the best indicator of the true value of the land