D Question 15 1 pts On December 1, Waterway Industries exchanged 6100 shares of its $30 par value common stock held in treasury for a parcel of land to be held for a future plant site. The treasury shares were acquired by Waterway at a cost of $40 per share, and on the exchange date the common shares of Waterway had a fair value of $55 per share. Waterway recelved $15,500 for selling scrap when an existing building on the property was removed from the site. Based on these facts, the land should be capitalized at O $180800 o $244000 O $320000