E10.12 (LO 1, 3) (Entries for Asset Acquisition, Including Self-Construction) Below are transactions related to Duffner Company. a. The City of Pebble Beach gives the company 5 acres of land as a plant site. The fair value of this land is determined to be $81,000. b. 13,000 shares of common stock with a par value of $50 per share are issued in exchange for land and buildings. The property has been appraised at a fair value of $810,000, of which $180,000 has been al- located to land and S630,000 to buildings. The stock of Duffner Company is not listed on any exchange. but a block of 100 shares was sold by a stockholder 12 months ago at $65 per share, and a block of 200 shares was sold by another stockholder 18 months ago at $58 per share