On December 1, Concord Corporation exchanged 6600 shares of its $20 par value common stock held in treasury for a parcel of land to be held for a future plant site. The treasury shares were acquired by Concord at a cost of $45 per share, and on the exchange date the common shares of Concord had a fair value of $55 per share. Concord received $18000 for selling scrap when an existing building on the property was removed from the site. Based on these facts, the land should be capitalized at $297000.$363000.$345000.$132000