On March 1, 2017, Oriole Company acquired real estate, on which it planned to construct a small office building, by paying $ 77,000 in cash. An old warehouse on the property was demolished at a cost of $ 7,600; the salvaged materials were sold for $ 1,580. Additional expenditures before construction began included $ 1,080 attorneys fee for work concerning the land purchase, $ 4,200 real estate brokers fee, $ 8,580 architects fee, and $ 13,400 to put in driveways and a parking lot. (a) Determine the amount to be reported as the cost of the land.

Cost of land

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