Padre, Incorporated, buys $80$ percent of the outstanding common stock of Sierra Corporation on January $1,2024,$ for $$757,280$ cash. At the acquisition date, Sierra's total fair value, including the noncontrolling interest, was assessed at $$946,600,$ although Sierra's book value was only $$696,000.$ Also, several individual items on Sierra's financial records had fair values that differed from their book values as follows:

$\backslash$table$[[,$ Account,Book Value,Fair Value$],[$Land$,$$$66,300,$$$251,300$