Cranston Enterprises Purchased Land for $2,000,000 in 1999

Cranston Enterprises purchased land for $2,000,000 in 1999.In 2014,an independent appraiser assessed the value at $4,400,000.What amount should appear on the financial statements in 2014 with respect to the land?

A) $2,000,000
B) $2,400,000
C) $4,400,000
D) Whatever amount the company believes is the best indicator of the true value of the land.