On July 1, 2024, a company purchased a $600,000 tract of land that is intended to be the site of a new office complex. The company incurred additional costs and realized salvage proceeds during 2024 as follows:

Demolition of existing building on site $ 81,000

Legal and other fees to close escrow 13,100

Proceeds from sale of demolition scrap 9,500

What would be the balance in the land account as of December 31, 2024?