On March 1, 2014, Zobrist Company acquired real estate, on which it planned to construct a small office building, by paying $87,850 in cash. An old warehouse on the property was demolished at a cost of $7,330; the salvaged materials were sold for $1,520. Additional expenditures before construction began included $1,350 attorney's fee for work concerning the land purchase, $4,750 real estate broker's fee, $9,360 architect's fee, and $14,020 to put in driveways and a parking lot. (a) Determine the amount to be reported as the cost of the land