On March 1, 2014, Zobrist Company acquired real estate, on which it planned to construct a small office building, by paying $86,640in cash. An old warehouse on the property was demolished at a cost of $7,500; the salvaged materials were sold for $1,510. Additional expenditures before construction began included $1,770attorneys fee for work concerning the land purchase, $4,670real estate brokers fee, $9,210architects fee, and $14,480to put in driveways and a parking lot.

(a)Determine the amount to be reported as the cost of the land.