On December 1,2020, Concord Corporation purchased a tract of land as a factory site for $715000. 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 2020 were as follows: In Concord's December 31,2020 balance sheet, what amount should be reported as land? $739100$767200$791300$797100