The 5 Amigos' Burgers has decided to add a retail store to their restaurant operation by building on a vacant lot next door. They currently own this lot, purchasing it 4 years ago for $300,000. Since then, they spent $48,000 on improvements and realize that if they sold the lot today, they would receive $330,000. In analyzing the value of this retail addition project, what amount should be used for the value of this land.