P Company acquired 75 percent of the common stock of S Corporation on December 31, 2020. On the date of acquisition, P held land with a book value of $150,000 and a fair value of $300,000; S held land with a book value of $100,000 and fair value of $500,000. What amount would land be reported in the consolidated balance sheet prepared immediately after the combination? Select one: 550,000 o 500,000 O 650,000 O 375,000