On December 1, 2025, Sunland Company purchased a tract of land as a factory site for $735000. 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: Cost to raze old building Legal fees for purchase contract and to record ownership Title guarantee insurance Proceeds from sale of salvaged materials $62000 9200 15700 6200 In Sunland's December 31, 2025 balance sheet, what amount should be reported as land? 4