Question $6(2\mathrm{.}1$ points$)$

In $2018,$ Jarrett Company purchased a tract of land as a possible future plant site. In January $2026,$ valuable sulfur deposits were discovered on adjoining property and Jarrett Company immediately began explorations on its property. In December $2026,$ after incurring $$480,000$ in exploration costs, which were accumulated in an expense account, Jarrett discovered sulfur deposits appraised at $$2,700,000$ more than the value of the land. To record the discovery of the deposits, Jarrett should

debit $$480,000$ to an asset account.

make no entry.

debit $$2,700,000$ to an asset account.

debit $$3,180,000$ to an asset account.