Gon december 1, miser corporation exchanged 6,000 shares of its $25 par value common stock held in treasury for a parcel of land to be held for a future plant site. the treasury shares were acquired by miser at a cost of $40 per share, and on the exchange date the common shares of miser had a fair value of $50 per share. miser received $18,000 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