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Land appraised at $$96,000$ is purchased by issuing $1,200$ shares of $$20$ par value common stock. The market price of the shares at the time of the exchange, based on active trading in the securities market, is $$95$ per share. Should the land be recorded at $$24,000,$ $$96,000,$ or $$114,000?$

The land should be recorded at $ $-$

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