A company acquires land by issuing 10, 600 shares of its $10 par value common stock which is currently trading at $25 per share, and the appraised value of the land is $256,000. Which of the following statements correctly describes the recording of the land? Record the land at the average of its appraised value of $256,000 and the $265,000 value of the stock issued, thereby recognizing a $-9,000 gain. Record the land at its appraised value of $256,000 and recognize a gain of $-9,000 since the issued stock is currently worth $265,000. Record the land at the $265,000 value of the consideration given up. Record the land at the par value of the stock given up. $106.000