Ivanhoe Corporation exchanged 2900 shares of its common shares for a parcel of land to be held as a future plant site. The book value of the shares is currently $100 per share, and their current market value is $110 per share. Ivanhoe received $52000 from the sale of scrap when an existing building on the property was removed from the site. Based on these facts, the land should be capitalized at 

$267000. $319000. $238000. $290000