3. Rayan Company purchases land for 60,000 on 12/31/19. As of 3/31/20, the land has appreciated in value to 60,900. On 12/31/20, the land has an appraised value of 61,600. If Rayan does not choose to revalue its long-term assets, what amount should the Land account be increased in 2020? * (1 Point) 0 700 O 0 900 O 1.600