A Wealthy Alumnus Donated Land to Be Used for a New

A wealthy alumnus donated land to be used for a new arts and sciences building at the local state university. The land has a fair market value of $250,000. The donor purchased the land ten years ago at a cost of $75,000. The entry to record the receipt of the donation would be $\begin{array}{llr}&&\text { Debit }&\text {Credit }\\ \text {A. } & \text { Land} &\$250,000\\& \text { Capital Contributions} &&\$250,000\\\\ \text { B.} & \text { Land } &\$75,000\\& \text { Capital Contributions} &&\$75,000\\\\ \text { C. } & \text { Land} &\$250,000\\ &\text {Special Item } &&\$250,000\\\\ \text { D. } & \text {Land }&\$75,000\\ &\text { Special Item} &&\$75,000\\\end{array}$