Selected accounts included in the property, plant, and equipment section of Sage Corporation's balance sheet at December 31, 2019, had the following balances. Land $402,000 Land improvements 187,600 Buildings 1,474,000 Equipment 1,286,400 During 2020, the following transactions occurred. 1. A tract of land was acquired for $201,000 as a potential future building site. 2. 3. A plant facility consisting of land and building was acquired from Mendota Company in exchange for 26,800 shares of Sage's common stock. On the acquisition date, Sage's stock had a closing market price of $37 per share on a national stock exchange. The plant facility was carried on Mendota's books at $147,400 for land and $428,800 for the building at the exchange date. Current appraised values for the land and building, respectively, are $308,200 and $924,600. Items of machinery and equipment were purchased at a total cost of $536,000. Additional costs were incurred as follows. Freight and unloading Sales taxes Installation $17,420 26,800 34,840