$On$ December $1,$ Marigold Corp. exchanged $5200$ shares $of$ its $$25$ par value common stock held $in$ treasury for a parcel $of$ land $tobe$

held for a future plant site. The treasury shares were acquired $by$ Marigold $at$ a cost $of$ $$40$ per share, and $on$ the exchange date the

common shares $of$ Marigold had a fair value $of$ $$60$ per share. Marigold received $$11000$ for selling scrap when $an$ existing building $on$

the property was removed from the site. Based $on$ these facts, the land should $be$ capitalized $at$

$$301000.$

$$130000$

$$208000$

$$312000$