! Required information [The following information applies to the questions displayed below.) 2 Salad Express exchanged land it had been holding for future plant expansion for a more suitable parcel of land along distribution routes. Salad Express reported the old land on the previously issued balance sheet at its original cost of $74,000. According to an independent appraisal, the old land currently is worth $140,000. Salad Express paid $21,000 in cash to complete the transaction. k Required: 1. What is the fair value of the new parcel of land received by Salad Express? Fair value of the new land ces