Current Attempt in Progress

On March $1,2027,$ Wildhorse Company acquired real estate, on which it planned to construct a small office building, by paying

$$80,000$ in cash. An old warehouse on the property was demolished at a cost of $$9,500$; the salvaged materials were sold for $$2,500.$

Additional expenditures before construction began included $$1,500$ attorney's fee for work concerning the land purchase, $$5,000$ real

estate broker's fee, $$7,500$ architect's fee, and $$13,500$ to put in driveways and a parking lot.

$($a$)$

Determine the amount to be recorded as the cost of the land.

Cost of land $