Concord Corporation acquired a tract of land containing an extractable natural resource Concord is required by its purchase contact to restore the land to a condition suitable for recreational we after it has extracted the natural resource Geological Surveys estimate that the recoverable reserves will be 2600000 tons, and that the land will have a value of $1040000 after restoration Relevant cost information follow Land $7440000 Estimated restoration costs 1400000 Concordanta inventories of extracted mater tontracted maten 5246 5340 $3.00 52.86