A company purchased land for $$80,000$ cash. Real estate brokers' commission was $$5,000$ and $$7,000$ was spent for demolishing an old building on the land before construction of a new building could start. The scraps from the old building was sold for $$3,000$ Under the historical cost principle, the cost of land would be recorded atSelect one:

a$.$

$$92,000.$

b$.$

$$85,000.$

c$.$

$$80,000.$

d$.$

$$89,000.$