Answer:
Land cost would be : $100,000
Explanation:
From the given information, 160000+320000 = 480,000. This is contrary to the initial purchase value if $420,000.
Therefore the have been a revaluation (according to the question). Accounting standards states that revaluation surplus should not be capitalized but rathe taken to the statement of other comprhensive income
From the question; $480000 - $420000 = $60,000
if building is $320,000,
Land will be ($160000-$60000) = $100000
