In $2018,$ Swifty Company purchased a tract of land as a possible future plant site. In January $2026,$ valuable sulfur deposits were discovered on adjoining property and Swifty Company immediately began explorations on its property. In December $2026,$ after incurring $$485000$ in exploration costs, which were accumulated in an expense account, Swifty discovered sulfur deposits appraised at $$2740000$ more than the value of the land. To record the discovery of the deposits, Swifty should

make no entry.

debit $$485000$ to an asset account.

debit $$3225000$ to an asset account.

debit $$2740000$ to an asset account.