The Following Selected Account Balances Appear on the December 31

Multiple Choice

The following selected account balances appear on the December 31 2016 balance sheet of Gigante Co. $\begin{array}{lr}\text { Land (location of the corporation's office building) } & \$ 155,000 \\\text { Land (held for future use) } & 225,000 \\\text { Corporate Office Building } & 850,000 \\\text { Inventory } & 300,000\\\text { Equipment } & 674,000 \\\text { Office Furniture } & 221,000 \\\text { Accumulated Depreciation } & 650,000\end{array}$ What is the total net amount of property plant and equipment that will be reported on the balance sheet?

A) $1250000
B) $1475000
C) $1550000
D) $1906000