In 1999, Morton Company Purchased a Tract of Land as a Possible

In 1999, Morton Company purchased a tract of land as a possible future plant site.In January, 2007, valuable sulphur deposits were discovered on adjoining property and Morton Company immediately began explorations on its property.In December, 2007, after incurring $400,000 in exploration costs, which were accumulated in an expense account, Morton discovered sulphur deposits appraised at $2,250,000 more than the value of the land.To record the discovery of the deposits, Morton should

A) make no entry.
B) debit $400,000 to an asset account.
C) debit $2,250,000 to an asset account.
D) debit $2,650,000 to an asset account.