Stephon Company paid \(\$ 640,000\) cash for a tract of land on which it plans to erect a new warehouse, and paid \(\$ 8,000\) in legal fees related to the purchase. Stephon also agreed to assume responsibility for \(\$ 25,600\) of unpaid taxes on the property. The company incurred a cost of \(\$ 28,800\) to remove an old apartment building from the land. Prepare a schedule showing the cost of the land acquired.