Exercise 10-03 a On March 1, 2020, Flint Company acquired real estate on which it planned to construct a small office building. The company paid $85,000 in cash. An old warehouse on the property was razed at a cost of $10,100; the salvaged materials were sold for $3,100. Additional expenditures before construction began included $1,500 attorney's fee for work concerning the land purchase, $4,900 real estate broker's fee, $7,200 architect's fee, and $14,000 to put in driveways and a parking lot. Determine the amount to be reported as the cost of the land. Cost of land $ it