Pearblossom Inc. owned 100% of the voting common stock of Sierra Corp. The corporations’ balance sheets dated December 31, 2018,

Pearblossom Inc. owned 100% of the voting common stock of Sierra Corp. The corporations’ balance sheets dated December 31, 2018, include the following balances for land: for Pearblossom – $832,000, and for Sierra – $512,000. On the original date of acquisition, the book value of Sierra’s land was equal to its fair market value. On October 7, 2020, Pearblossom sold to Sierra a parcel of land with a book value of $130,000. The selling price was $166,000. There were no other transactions which affected the companies’ land accounts during 2020. What is the consolidated balance for land on the 2020 balance sheet?

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