Land appraised at

$65,600

is purchased by issuing 820 shares of

$20

par value common stock. The market price of the shares at the time of the exchange, based on active trading in the securities market, is

$95

per share. Should the land be recorded at

$16,400

,

$65,600

, or

$77,900

?\ The land should be recorded at $

Land appraised at $65,600 is purchased by issuing 820 shares of $20 par value common stock. The market price of the shares at the time of the exchange, based on active trading in the securities market, is $95 per share. Should the land be recorded at $16,400, $65,600, or $77,900 ? The land should be recorded at \$