On December 1, 2025, Concord Corporation purchased a tract of land as a factory site for $780000. The old building on the property was razed, and salvaged materials resulting from demolition were sold. Additional costs incurred and salvage proceeds realized during December 2025 were as follows: In Concord's December 31, 2025 balance sheet, what amount should be reported as land? $843900. $870600. $806700. $877700